Bank of India invests Rs 150 Crore in Hindustan Construction subsidiary Lavasa Corporation

Hindustan Construction Company Ltd has announced that Bank of India has invested Rs 150 Crore in Lavasa Corporation Ltd (LAVASA), a subsidiary of HCC (Hindustan Construction Company Ltd) in the form of Convertible Debentures.

Based on the above investment, the equity valuation of LAVASA gets reconfirmed at Rs 10,000 Crore. (Axis Bank Ltd had invested Rs 250 Crore at the same valuation).

The Stock closed on Tuesday at Rs.52.55, up by Rs.0.30 or 0.57%. The stock hit an intraday high of Rs.57.80 and low of Rs.52.

The total traded quantity was 765995 compared to 2 week average of 1192211.

Source : Equity Bulls

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