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Hindustan Construction shares rise on arbitration award

Traders said the arbitration payments would increase cash inflow and help reduce debt burden of Hindustan Construction.

Indulal PM   Mumbai     Last Updated: March 25, 2015  | 13:51 IST
Hindustan Construction shares rise on arbitration award
The company had Rs 1,372 crore worth of arbitration cases pending as on December 31, 2014. (Photo: Reuters)

Hindustan Construction shares surged on Wednesday, after the company said it secured an arbitration award worth Rs 217 crore.

The company had Rs 1,372 crore worth of arbitration cases pending as on December 31, 2014.

These payments would increase cash inflow and help reduce debt burden of Hindustan Construction, traders said.

At 12:29 pm, shares of Hindustan Construction were trading at Rs 31.25 apiece on the Bombay Stock Exchange (BSE), up 1.50 points or 5.04 per cent. While on the National Stock Exchange (NSE), the shares were trading at Rs 30.75 per scrip, up 1.05 points or 3.50 per cent.

(Reuters)

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