Hindustan Construction Company rose 4.72% to Rs 25.50 at 11:43 IST on BSE on reports the company is planning to raise up to Rs 1000 crore or equivalent in any foreign currency through available financial instruments.
Meanwhile, the BSE Sensex was up 33.68 points, or 0.12%, to 27,763.35.
On BSE, so far 8.74 lakh shares were traded in the counter, compared with an average volume of 12.58 lakh shares in the past one quarter.
The stock hit a high of Rs 25.80 and a low of Rs 24.30 so far during the day. The stock hit a 52-week high of Rs 49 on 1 July 2014. The stock hit a 52-week low of Rs 20.05 on 11 June 2015.
The stock had underperformed the market over the past one month till 24 June 2015, sliding 13.81% compared with 0.81% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 18.15% as against Sensex's 1.53% fall.
The small-cap company has an equity capital of Rs 77.92 crore. Face value per share is Re 1.
According to media reports, Hindustan Construction Company (HCC) has sought shareholder approval to raise up to Rs 1000 crore or equivalent in any foreign currency through available financial instruments.
The funds will be utilised in meeting long-term working capital and capital expenditure requirements of the company and subsidiaries, joint ventures and affiliates besides strengthening the balance sheet of the company, including repayment of debt, tap acquisition opportunities, usage for business ventures/projects and other general corporate purposes, reports added.
Net profit of HCC declined 15.37% to Rs 20.65 crore on 3.23% decline in net sales to Rs 1120.46 crore in Q4 March 2015 over Q4 March 2014.
HCC Group delivers engineering & construction services.
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