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."
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