State-owned Hindustan Copper on Tuesday said its board has approved the increase in borrowing limit of the company from consortium and other banks from existing Rs 850 crore to Rs 1,350 crore.
The approval was granted during the board meeting held on Monday, Hindustan Copper said in a filing to BSE.
"The board of directors of Hindustan Copper... has inter alia considered and approved increase in borrowing limit of the company from consortium /other Banks from existing Rs 850 crore to Rs 1,350 crore by way of cash credit/working capital arrangements, etc," the PSU said.
Hindustan Copper is a vertically integrated copper producing company that manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products.
The company's mines and plants are spread across five operating units, one each in Rajasthan, Madhya Pradesh, Jharkhand, Maharashtra and Gujarat.
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