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HCC Board Approves 1:1 Bonus Issue
(RTTNews) - Mumbai-based Hindustan Construction Company (HCC) said today that its board has approved issuing bonus shares in the ratio of 1:1 (one equity share of Re.1 each for every existing share). Earlier, the company issued bonus shares in June 1995.
Meanwhile, HCC plans to raise around Rs.2,000 crore by selling shares in its subsidiary Lavasa Corp, media reports quoted Ajit Gulabchand, chairman of HCC, as saying.
For the three months ended June, the construction and civil engineering firm reported standalone net profit of Rs 28.31 crore, up 56% from Rs. 18.2 crore in the year-ago period.
Shares of HCC are now trading at Rs. 135.50 on the BSE, up 5.20% on a volume of 34.39 lakh shares versus a two-week daily average volume of 5.20 lakh shares.
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