Parekh Aluminex is locked in upper circuit of 10% at Rs 49.10, extending its previous day’s 5% rally, after the company said the restructuring of the liabilities of the company are at the final stage of the approval.
The stock opened at Rs 46.45 and hit a low of Rs 45 on BSE. Around 11,549 shares have changed hands on the counter till 1045 hours against an average 3,300 shares that were traded daily in past two weeks. There are pending buy orders for 3,296 shares on BSE.
“The company has decided to prepare the financial accounts for a period of 18 months instead of 12 months by extending the financial year from March 31, 2013 to September 30, 2013 as restructuring of the liabilities of the company are at the final stage of the approval,” Parekh Aluminex said in a regulatory filing.
The company has already got approval from the Registrar of Companies-Mumbai, Maharashtra, vide letter dated April 05, 2013, it added.
Meanwhile, the company yet to announce its March 2013 quarter results, had posted a net loss of Rs 317 crore for first nine months ended December 2012 against profit of Rs 60 crore during the period last year.
The stock opened at Rs 46.45 and hit a low of Rs 45 on BSE. Around 11,549 shares have changed hands on the counter till 1045 hours against an average 3,300 shares that were traded daily in past two weeks. There are pending buy orders for 3,296 shares on BSE.
“The company has decided to prepare the financial accounts for a period of 18 months instead of 12 months by extending the financial year from March 31, 2013 to September 30, 2013 as restructuring of the liabilities of the company are at the final stage of the approval,” Parekh Aluminex said in a regulatory filing.
The company has already got approval from the Registrar of Companies-Mumbai, Maharashtra, vide letter dated April 05, 2013, it added.
Meanwhile, the company yet to announce its March 2013 quarter results, had posted a net loss of Rs 317 crore for first nine months ended December 2012 against profit of Rs 60 crore during the period last year.
