Debt repayment talk scripts Bilt surge

Dalal Street Spikes

 The counter moved up on good buying support on reports of the company planning to repay a part of its debt.

 The counter has seen a price surge in recent times on the back of firm paper prices, according to analysts.

 The repayment of debt will help the company reduce interest costs. Bilt recently raised $80 million in overseas funds.

 Of this, $35 million came from a global depository (GDS) issue, while $45 million came from the placement of foreign currency convertible bonds.

 The company is one of the largest manufacturer and exporter of paper in India.

 For the first quarter ended 30 September 2003, Bilt posted a 24.4 per cent rise in net profit at Rs 31.21 crore (Rs 25.09 crore).