ARSS Infrastructure Projects is locked in 5% upper circuit at Rs 115.75 for the second straight session after its board approved the proposal of Corporate Debt Restructuring System (CDR System).
“The board of directors of the company at its meeting held on December 22, 2011, approved the proposal of CDR System for the purpose of restructuring of the various loans / advances taken from various banks/financial institutions," the constructions and engineering company said in a filing to the stock exchanges.
The stock rallied 10.2% from Rs 105 on December 22, 2011 on the Bombay Stock Exchange (BSE).
A combined 18,921 shares have changed hands on the counter so far on the NSE and BSE. There are pending buy orders for 60,445 shares on both the exchanges.
