Hindustan Construction Company's stock rose 20%, giving 170% return in last 2 years
Impact of HCC's debt resolution plan: Hindustan Construction Company's stock rose 20%, giving a 170% return in last 2 years
Shares of Hindustan Construction Company (HCC) closed with a gain of about 20% on Tuesday. It is being told that this rise in the shares of the company has come after one of its statements given a day ago. The engineering and construction company said that it has completed its debt resolution plan.
The stock of Hindustan Construction closed at Rs 14.66 on the BSE on September 27, up by 19.67% or Rs 2.40. At the same time, with trading in 1,42,33,809 shares of the company, the stock saw a rise of 10.79 times.
At the same time, its deliverable quantity was only 59,11,301 shares today. This stock has given returns of around 50% in the last year. At the same time, in the last 2 years, this company gave about 170% return.
According to the exchange filing of Hindustan Construction Company, the company has handed over Rs 2,854.4 crore towards lenders' liability along with beneficial economics interest in arbitration awards and claimed to have paid Rs 6,508 crore to Prolific Resolution Pvt Ltd. It is a wholly-owned subsidiary of the Company ("SPV").