 "NR Agarwal Industries surges on exit from CDR")
NR Agarwal Industries has surged 10% to Rs 202 on BSE in an otherwise weak market after the company said that it has exited from corporate debt restructuring (CDR).
The company engaged in paper & paper products business said the CDR Cell, vide its letter dated August 30, had approved the exit of the company, subject to payment of recompense amount.
“The company was awaiting a confirmation letter from Bank of Baroda regarding the recompense amount which has been received on October 05, 2016 confirming the earmarking of the recompense amount by the company,” NR Agarwal Industries said in a statement. LINK
The stock hit a 52-week high of Rs 209 on BSE in intra-day trade, has rallied 56% in past four trading sessions from Rs 133.75 on September 30, 2016.
Since August 1, it appreciated nearly three-fold from Rs 77.65, after the company reported net profit of Rs 12.10 crore for the quarter ended June 30, 2016. It had posted a net loss of Rs 1.24 crore in the same quarter last fiscal.
Till 09:59 am, around 17,000 shares changed hands as compared to an average 24,000 shares that were traded in past two weeks on the BSE. The S&P BSE Sensex was down 0.19% or 55 points at 28,051.
The company engaged in paper & paper products business said the CDR Cell, vide its letter dated August 30, had approved the exit of the company, subject to payment of recompense amount.
“The company was awaiting a confirmation letter from Bank of Baroda regarding the recompense amount which has been received on October 05, 2016 confirming the earmarking of the recompense amount by the company,” NR Agarwal Industries said in a statement. LINK
The stock hit a 52-week high of Rs 209 on BSE in intra-day trade, has rallied 56% in past four trading sessions from Rs 133.75 on September 30, 2016.
Since August 1, it appreciated nearly three-fold from Rs 77.65, after the company reported net profit of Rs 12.10 crore for the quarter ended June 30, 2016. It had posted a net loss of Rs 1.24 crore in the same quarter last fiscal.
Till 09:59 am, around 17,000 shares changed hands as compared to an average 24,000 shares that were traded in past two weeks on the BSE. The S&P BSE Sensex was down 0.19% or 55 points at 28,051.