HUDCO board responds to exchange fine over board composition lapse

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HUDCO · price

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+0.7%1-day move

₹206.36

prior close

₹207.51

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After-mkt

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AI summary

BSE and NSE fined HUDCO Rs 5.31 lakh (including GST) for non-compliance with SEBI LODR Regulation 17(1) on board composition, including failure to appoint a woman director, during the quarter ended March 2026. The fine covers 90 days at Rs 5,000 per day. HUDCO told exchanges it is a Government Company and that director appointments are made by the President of India through the Administrative Ministry, which is beyond its control. Board has asked management to keep pushing the Ministry and has requested both exchanges to waive the fine.

Likely market impact

Small financial hit at Rs 5.31 lakh. Risk: a second straight quarter of non-compliance could shift HUDCO to Z group and trigger trading suspension.