HDIL continues with its downward spiral
DSIJ Intelligence / 07 Aug 2017
Housing Development and Infrastructure (HDIL) has extended its losing streak in Monday’s trading session. The stock touched its intraday low of Rs 69.05 per share, down by over 8.8% on the BSE as of 1130 hours.
Housing Development and Infrastructure (HDIL) has extended its losing streak in Monday’s trading session. The stock touched its intraday low of Rs 69.05 per share, down by over 8.8% on the BSE as of 1130 hours.
It is underperforming the Nifty Realty index, which is trading at the 283 level, up by 1.18%.
The National Company Law Tribunal, under the Insolvency and Bankruptcy Code 2016, has recently admitted an application from Union Bank of India for HDIL’s wholly-owned subsidiary company, Guruashish Constructions Private Limited, and appointed an insolvency resolution professional.
The company will file an apt reply and will take appropriate measures as and where required in the proceedings with the tribunal and appellate authorities.
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