HCC's scrip continues to build up on Dalal Street
DSIJ Intelligence / 01 Sep 2016
Hindustan Construction Company (HCC) has revived bankers' approval for restructuring further under the recent RBI guidelines on 'scheme for sustainable structuring of stressed assets (S4A)', which will potentially provide the company relief on cash flows.
Hindustan Construction Company (HCC) has revived bankers' approval for restructuring further under the recent RBI guidelines on 'scheme for sustainable structuring of stressed assets (S4A)', which will potentially provide the company relief on cash flows.
HCC has standalone debt of Rs 4900 crore. The company will be able to reduce it by half as government agencies are to pay 75 per cent of arbitral awards. It has arbitration awards for over Rs 3200 crore. After the cabinet’s decision, HCC will get about Rs 2400 crore amount immediately. Its claims worth Rs 5000 crore are in arbitration process. Post cabinet decision, the company will be able to receive these awards within one-year time period.
The share price of HCC has increased by 20 per cent on bourses after infrastructure boost from government on Wednesday. The company's share price has risen by 18.55 per cent on bourses in early trades on Thursday; and is trading at Rs 30.55 on an intraday basis.
HCC provides engineering and construction services. The company's businesses span the sectors of engineering and construction, real estate, infrastructure, urban development and management.
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