Join WhatsApp

Join Now

Join Telegram

Join Now

HCC Stock Headed For Record Drop As Unit Defaults

Gold Silver Reports (GSR) – HCC Headed For Record Drop As Unit Defaults – Shares of the Mumbai-based infrastructure construction firm fell as much as 24.2 percent and is headed for steepest single-day loss since Jan. 1991 listing after unit. The company’s unit, Lavasa Corporation Ltd., is considering a resolution plan for its outstanding debt and is in the process of restructuring bonds after a payment default.

Lavasa defaulted on dues payable to bond holders and also has external borrowing from banks and financial institutions, the company said in an exchange filing.

The relative strength index, as indicated by Bloomberg, is 22, indicating that the stock may be oversold.

Spread the love

Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

Leave a Comment