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Hind Copper board recommends raising borrowing to INR 1,500 crore-2018 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
5/30/2018 有色金属展-Copper exhibition -non-ferrous metals expo |
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India Today reported that state run Hindustan Copper board has recommended increasing the borrowing limit to INR 1,500 crore from the existing INR 800 crore. HCL said in a filing to BSE that "The board of directors of Hindustan Copper Ltd in its meeting held on May 25 has recommended enhancement of the borrowing limit from existing INR 800 crore to INR 1,500 crore together with interest other than the temporary loans obtained by way of cash credit/working capital arrangements etc and creation of security/charge for approval of shareholders of the company and other related banking contracts."
The company said its financial results for the quarter ended March 31, 2018 could not be considered as the board sought additional details.
Consequently, dividend for the FY 2017-18 also could not be considered, it added.
The board decided to meet again at short notice on May 30, 2018 to consider and approve accounts and financial results for the year ended March 31, 2018 and dividend for FY 2017-18.
HCL, a public sector undertaking under the administrative control of the mines ministry, has the distinction of being the nations only vertically integrated copper producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products.
The company markets copper cathodes, copper wire bar, continuous cast copper rod and by-products, such as anode slime, copper sulphate and sulphuric acid.
有色金属展-铜材展-2018年广州国际有色金属工业（铜业）展览会
-2018 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
-Non-Ferrous Metal exhibition, 2018
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