News about Hindustan Construction Co. Limited
October 18th, 2007
The media had reports that Deutsche Bank Singapore has picked up 5 percent stake in Lavasa Corporation, a real estate project promoted by Hindustan Construction Co. Ltd for Rs. 500 crore.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Hindustan Construction Co. Ltd has vide its letter inter-alia stated,”The news published in the media is incorrect. However, LAVASA Corporation Ltd. which is a subsidiary of HCC’s subsidiary, is in the process of raising funds including equity. Towards this purpose, LAVASA is in discussion with various Bankers.”
Entry Filed under: Equity Markets
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