Bajaj Hindusthan jumped 6.95% to Rs 31.55 at 9:18 IST on BSE after the company said it has made repayment of $17.723 million of FCCBs on due date, in connection with FCCBs issued to International Finance Corporation, Washington.
The announcement was made after market hours on Monday, 23 June 2014.
Meanwhile, the S&P BSE Sensex was up 158.40 points or 0.63% at 25,189.72.
On BSE, so far 6.51 lakh shares were traded in the counter as against average daily volume of 13.75 lakh shares in the past two weeks.
The stock hit a high of Rs 32.15 and a low of Rs 31.40 so far during the day.
Bajaj Hindusthan had issued foreign currency convertible bonds (FCCBs) worth $15 million to International Finance Corporation (IFC), Washington. The company has made repayment of $17.723 million, including the redemption premium of $2.723 million on the due date (16 June 2014), in accordance with the terms and conditions of the said FCCBs. With the aforesaid repayment, entire outstanding FCCBs held by IFC, Washington stands redeemed on maturity, Bajaj Hindusthan said.
Bajaj Hindusthan reported a net loss of Rs 423.90 crore in the quarter ended 31 March 2014 as against net profit of Rs 1.95 crore in the quarter ended 31 March 2013. Net sales rose 2.9% to Rs 1324.85 crore in the quarter ended 31 March 2014 over the quarter ended 31 March 2013.
Bajaj Hindusthan is engaged in the manufacturing of sugar and ethanol.
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