The announcement was made after market hours on Thursday, 27 June 2013.
Meanwhile, the S&P BSE Sensex was up 397.28 points or 2.1% at 19,273.23.
On BSE, 4.51 lakh shares were traded in the counter as against average daily volume of 2.94 lakh shares in the past one quarter.
The stock hit a high of Rs 11.30 and a low of Rs 10.55 so far during the day. The stock had hit a 52-week high of Rs 22.15 on 6 July 2012. The stock had hit a 52-week low of Rs 10.10 on 21 June 2013.
The stock had underperformed the market over the past one month till 27 June 2013, sliding 23.37% as compared to the Sensex's 5.77% fall. The stock had also underperformed the market in the past one quarter, declining 24.87% as compared to the Sensex's 0.92% rise.
The small-cap construction company has equity capital of Rs 60.66 crore. Face value per share is Re 1.
Hindustan Construction Company (HCC) has approved preferential allotment of 3.92 crore convertible warrants to two promoter companies viz. Hincon Holdings and Hincon Finance at a price of Rs 16.32 per warrant (including a premium of Rs 15.32) aggregating Rs 64 crore.
HCC reported net loss of Rs 50.26 crore in Q4 March 2013, lower than net loss of Rs 54.17 crore in Q4 March 2012. Net sales declined 14.9% to Rs 982.97 crore in Q4 March 2013 over Q4 March 2012.
HCC has executed a majority of India's landmark infrastructure projects. The HCC Group comprises of HCC, HCC Infrastructure Co., HCC Real Estate, Lavasa Corporation and Steiner AG in Switzerland.
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