'Hath Mat Lagana...': Sanjiv Bhasin's penny stock - Share price below Rs 50

Authored by : Varun Yadav Updated Jun 14, 2024 | 12:46 PM IST Photo : ET Now Digital Sanjiv Bhasin's strategy on HCC stock.

Sanjiv Bhasin Penny Stock : Stocks of Hindustan Construction Company (HCC) have slumped 1.66% in the opening trade session, Friday, June 14, against the previous day close at Rs 48.86 apiece. The current stock price of HCC stands at Rs 48.02 apiece around 9:23 Am.

Stocks of HCC have gained around 35.45% in the past one month. It is near to its 52-week high of Rs 51.18 apiece.

In an exclusive conversation with ET Now Swadesh, IIFL securities head and ace investor Sanjiv Bhasin has given trading strategy of Hindustan Construction Co. Ltd. (HCC). stock.

Sanjiv Bhasin on HCC Sanjiv Bhasin said he had been recommending HCC at Rs 32-34-36-38 for many days. "Don't touch to sell it before Rs 75", adds Bhasin.

HCC market capHCC has a market cap of Rs 8,124 crore according to BSE analytics. The stock has a face value of Rs 1 each. The 52-week movement indicates a high of Rs 51.13 and a low of Rs 17.05.

HCC share price history HCC stocks have given positive returns in the past few years. Looking at the short run, the stocks have gained around 30.99% in the past two weeks. Likewise, there 56% return in the stocks over the six months. The one- and three-year returns of the stocks stood at 171.56% and 363.98%.

HCC Right Issue In March 2024, HCC announced Right issue of equity shares with an ex-date of March 15, 2024. Rights issue is a strategy by the Company to invite exisiting shareholders to buy additional equities at the discounted price. It's a mechanism to raise funds by increasing the number of shares in the market.

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