Shares of Hindustan Construction Company slumped over 17 per cent today amid reports that its subsidiary Lavasa Corp is headed for bankruptcy, which the company has denied as misleading and without any basis.
The stock plummeted 17.30 per cent to close at Rs 23.90 on BSE. Intra-day, it plunged 19.20 per cent to Rs 23.35.
On NSE, shares of the company slumped 17 per cent to end at Rs 23.90.
The company's market valuation went down by Rs 507 crore to Rs 2,426.96 crore.
In terms of equity volume, 103.06 lakh shares of the company were traded on BSE and over 9 crore shares changed hands on NSE during the day.
Earlier in the day, BSE had sought clarification from the company on the media reports.
Later, the company in a filing to BSE said, "In the said connection, we wish to clarify that the said news item in a section of media is misleading and without any basis."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app