Hindustan Construction EGM aproves raising funds upto Rs 1500 crore

Hindustan Construction Company Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on June 22, 2009, have approved the issuance of Equity Shares / Global Depository Receipts / American Depository Receipts / Convertible Bonds / Convertible Debentures and / or any other Securities convertible into Equity Shares by way of public / private offering in domestic / international markets and / or private placement through Qualified Institutions Placement to Qualified Institutional Buyers resulting in the issue of upto an aggregate amount of Rs 1,500 crore or its equivalent in any currency.

The stock was trading at Rs.103.20, up by Rs.3.90 or 3.93%. The stock hit an intraday high of Rs.104.20 and low of Rs.101.80.

The total traded quantity was 272575 compared to 2 week average of 1584378.

Source : Equity Bulls

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