HCC shares in news today on closure of QIP, check details 

Shares of Hindustan Construction Co Ltd (HCC) are in news on Friday after the company raised Rs 600 crore via its Qualified Institutional Placement (QIP). HCC board approved the issue of 13.95 crore shares to eligible bidders at an issue price of Rs 43.01 per share, a 5% discount to the floor price of Rs 45.27 per share.

The civil construction firm had launched the QIP on December 16 to sell shares to eligible institutions.

The stock slipped 1.23% to Rs 44.09 on Thursday against the previous close of Rs 44.64 on BSE. Total 19.50 lakh shares of the firm changed hands amounting to a turnover of Rs 8.59 lakh. Market cap of the firm stood  at Rs 7406.59 crore.

HCC stock has gained 46.48% in a year and risen 211% in three years.

In terms of technicals, the relative strength index (RSI) of HCC stock stands at 53.1, signaling it's trading neither in the overbought nor in the oversold zone. HCC stock has a one-year beta of 2, indicating very high volatility during the period. HCC shares are trading higher than the 20 day, 50 day, 100 day, 200 day and lower than 5 day, 10 day and 150 day moving averages.         

The stock hit a 52 week low of Rs 26.60 on December 21,2023 and a 52 week high of Rs 57.46 on July 26, 2024. 

HCC said investors such as SBI General Insurance (12.50% of the issue), Societe Generale - ODI (11%), Citigroup Global Markets (Various Schemes)    (7.67%) and Leading Light Fund VCC - The Triumph Fund (5%)    have been issued shares by HCC through this QIP exercise. 

The four funds mentioned were issued more than 5% of the shares reserved for the QIP exercise by HCC, according to the company's exchange filing.

After the QIP issue, the total paid-up equity share capital of the company now stands at Rs 181.94 crore, comprising 181.93 crore shares.