Singer India no longer sick company under BIFR; stock rallies
At 01:50 pm, the stock was at Rs 92, up 4.19 per cent, on the BSE. It touched a high of Rs 96.15 and a low of Rs 91 in trade today.
By ET Online |
MUMBAI: Shares of Singer India surged higher in a weak market on Tuesday after the Board for Industrial & Financial Reconstruction ( BIFR) announced that the company has ceased to be a sick industrial company.
The bench observed that the scheme sanctioned for revival of the sick company has been substantially implemented, all secured creditors have been settled, all statutory dues paid by the company and the net worth of the company has turned positive by Rs 14.50 crore.
At 01:50 pm, the stock was at Rs 92, up 4.19 per cent, on the BSE. It touched a high of Rs 96.15 and a low of Rs 91 in trade today.
The bench observed that the scheme sanctioned for revival of the sick company has been substantially implemented, all secured creditors have been settled, all statutory dues paid by the company and the net worth of the company has turned positive by Rs 14.50 crore.
At 01:50 pm, the stock was at Rs 92, up 4.19 per cent, on the BSE. It touched a high of Rs 96.15 and a low of Rs 91 in trade today.
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