HCC declined 2.31% to Rs 35.90 at 12:00 IST on BSE after the company said its subsidiary, Lavasa Corp. has received observation letter from Sebi for its proposed initial public offering for an amount not exceeding Rs 750 crore.
The company made announcement during market hours today, 12 November 2014.
Meanwhile, the S&P BSE Sensex was up 204.24 points or 0.73% at 28,114.30.
On BSE, so far 6.45 lakh shares were traded in the counter as against average daily volume of 12.17 lakh shares in the past one quarter.
The stock hit a high of Rs 37.30 and a low of Rs 35.50 so far during the day. The stock had hit a 52-week high of Rs 49 on 1 July 2014. The stock had hit a 52-week low of Rs 11.45 on 26 November 2013.
The stock had outperformed the market over the past one month till 11 November 2014, rising 18.36% compared with the Sensex's 6.13% rise. The scrip had, however, underperformed the market in past one quarter, gaining 1.66% as against Sensex's 9.37% rise.
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The mid-cap firm has an equity capital of Rs 64.58 crore. Face value per share is Re 1.
Hindustan Construction Company (HCC)'s net profit fell 78.6% to Rs 6.76 crore on 4.2% fall in total income to Rs 963.62 crore in Q2 September 2014 over Q2 September 2013.
HCC Group delivers engineering & construction services.
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