Company reached repayment settlement with HDFC Bank; to pay only 50% of outstanding loan of Rs 100 Cr; stock up
Maytas Infra’s financial turn around is in process. The company has reached repayment settlement with one of its lenders, HDFC Bank. The company will pay only 50% of the outstanding loan of Rs 100 crore. Some Other banks have also given assent to a similar proposal. About 14 banks had extended loans of Rs 2,000 crore to Maytas. The company is also looking to raise $ 200 million through a QIP.
Maytas Infra touched an intra day high of Rs 187.50 and an intra day low of Rs 158.15 and at 14:59 PM, the share was quoting at Rs 185.90, up Rs 27, or 16.99%, trading with volumes of 3,102,806 shares, compared to its 5-day average of 230,331 shares, an increase of 1,247.11%. Yesterday the share closed up 3.05% or Rs 4.70 at Rs 158.90.
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