At 11.15am, the HCC stock was trading at Rs25.60 on BSE, down 11.3% from its previous close. Mumbai: Hindustan Construction Co. Ltd (HCC) shares slumped over 15% on Thursday, its biggest fall in 16 month, after a report that its arm Lavasa Corp. Ltd may turn bankrupt. HCC shares fell 14.87%, its steepest fall since November 2016, and touched a low of Rs24.60 a share. “The Lavasa management is planning to declare bankruptcy and is likely to approach the NCLT by the end of this month i.e, March 2018. The quality of inventory would be the key differentiating factor for companies in this sector to determine their relative refinancing capability,” according to the India Rating report.

Source: Mint March 22, 2018 06:45 UTC