Shares of HUDCO rose over 3.5% on March 17 as the PSU firm extended inked a Rs 11,000-crore loan agreement with Andhra Pradesh’s Capital Region Development Authority on Sunday for the construction of the greenfield capital city, Amaravati.
The agreement was signed in the presence of Chief Minister N Chandrababu Naidu at his residence in Undavalli of Guntur district.
At 1:30 pm on March 17, HUDCO shares on BSE were trading 3.7% higher at Rs 188 apiece. The 52-week high of the stock is Rs 353.7 and 52-week low is Rs 159. The market capitalisation of the stock is Rs 37,500 crore.
"HUDCO and CRDA entered into the agreement in the presence of Chief Minister Chandrababu Naidu… As per this deal, HUDCO will extend a loan of Rs 11,000 crore for the capital construction," said a press release.
A Housing and Urban Development Corporation (HUDCO) board meeting held in Mumbai on January 22 had given a green signal for the loan.
Municipal Minister P Narayana, HUDCO CMD Sanjay Kulshrestha and other officials were present during the signing of the agreement.
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