Hindustan Construction to consider raising funds on Apr 24, 2009

Hindustan Construction Company Ltd has now announced with reference to the earlier announcement dated April 09, 2009 regarding the convening of the Meeting of Board of Directors of the Company on April 24, 2009, inter-alia, to consider and approve the Audited Annual Accounts / Audited Financial Statements for the year ended March 31, 2009 and to recommend dividend, if any, on the Equity Shares of the Company, that the Board of Directors of the Company at the said Meeting i.e. on April 24, 2009 shall be considering various options for raising long term funds for meeting Company's capital expenditure and growth plans by way of issuance of Equity Shares and / or any other securities convertible into Equity Shares including a Rights Issue to the existing Shareholders of the Company.

The stock closed the day at Rs.61.05, up by Rs.5.55 or 10%. The stock hit an intraday high of Rs.63.90 and low of Rs.55.15.

The total traded quantity was 4425167 compared to 2 week average of 2930688.

Source : Equity Bulls

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