ARSS Infrastructure Projects has locked upper circuit of 20% at Rs 44.40 after the company said it has entered in to agreements with Corporate Debt Restructuring (CDR) Lenders led by State Bank of India.
“The company has entered in to agreements, i.e. Master Restructuring Agreement (MRA) and Trust Retention Agreement (TRA) on September 06, 2012, pursuant to the CDR Mechanism for implementation of terms and conditions stipulated in the Letter of Approval received from CDR EG (Corporate Debt Restructuring Empowered Group) on dated June 19, 2012 with the CDR Lenders led by State Bank of India,” ARSS Infrastructure Projects said in a filing.
The stock opened at Rs 38 and hit a low of Rs 37.80 on the BSE. A combined 1.93 million shares have changed hands on the counter and there are pending buy orders for 284,987 shares on the BSE and NSE.
