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Jun 11, 2012, 04.21 PM IST

HCC shoots up 9% on debt restructure buzz

Shares of Hindustan Construction Company (HCC) gained as much as 9% to intraday high of Rs 20.75 on Monday after the company said it sought to restructure debt of Rs 3,300 crore, reports CNBC-TV18 quoting NewsWire18.

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Shares of Hindustan Construction Company (HCC) gained as much as 9% to intraday high of Rs 20.75 on Monday after the company said it sought to restructure debt of Rs 3,300 crore, reports CNBC-TV18 quoting NewsWire18.


However, the stock shed somewhat gains in late trade on account of weak market conditions.


Banks agreed in-principle to recast Rs 850 crore Lavasa debt. HCC plans to raise funds by liquidating non-core assets.


At 15:29 hours IST, the share was trading at Rs 19.35, up 1.57%. Market capitalisation of the company currently stands at Rs 1,173.79 crore.
 
Its trading volumes increased 321% to 27,45,788 shares as compared to its 5-day average of 651,739 shares.


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