Hindustan Construction Company redeems Debentures

Hindustan Construction Company Ltd has announced that on September 07, 2010 the Company has made payment of 2nd installment of redemption of Rs. 3,33,334/- per debenture to Axis Bank Ltd., the sole debentureholder of 500, 9% Secured Redeemable Non-Convertible Debenture of Rs. 10,00,000/- each aggregating to Rs. 50 Crore.

Consequent to the payment of the 2nd installment of redemption, the face value of the said debentures stand reduced to Rs. 3,33,333/- per debenture.

The stock closed the day at Rs.60.70, down by Rs.0.90 or 1.46%. The stock hit an intraday high of Rs.61.90 and low of Rs.60.25.

The total traded quantity was 3.83 lakhs compared to 2 week average of 7.80 lakhs.

Source : Equity Bulls

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