Business Standard

3i Infotech surges 27% post shares allotment under CDR package

Allotted 225.9 million shares to lenders under its corporate debt restructuring (CDR) package at Rs 19.74 per share.

Related News

3i Infotech has surged over 10% at Rs 12.30, extending its past four days rally, after allotting 225.9 million shares to lenders under its corporate debt restructuring (CDR) package at Rs 19.74 per share.

On June 29, IT consulting and software firm has allotted around 89 million shares to ICICI Bank. This includes 17.7 million shares allotted to the bank on conversion of 70 million preference shares as agreed in the package.

In March, the lenders of had agreed to the debt restructuring proposals, which included conversion of secured and unsecured debt to equity and grant of additional term loans of Rs 75 crore.

The stock has rallied 27% in past five trading sessions on the Bombay Stock Exchange, compared to less than 2.5% rise in the benchmark Sensex and 4% gain in small-cap index.

The counter has seen huge volumes today, with a combined 16.88 million shares already changed hands so far, against an average sub 5 million that were traded daily in past two weeks.

Read more on:   
|
|

Read More

Icra places 14 auto component makers under watch

Rating agency Icra today placed 14 auto component manufacturers on "rating watch with developing implications", following lockout at Maruti Suzuki's ...

Quick Links

 

Market News

Cipla hits new high; stock gains 10% in two days

Since September 1, the stock rallied 23% after the company launched an anti-asthma inhaler in Germany and Sweden.

Bajaj Electricals gains on orders worth Rs 518 crore

The company has received two rural electrification orders in Madhya Pradesh worth Rs 518.46 crore

Fortis Healthcare surges 10% on divestment of stake in RadLink-Asia

To divest entire stake in RadLink-Asia and its arm RadLink Singapore to Medi-Rad Associates for SGD 137 million (over Rs 655 crore).

Yes Bank dips as FII investment reaches trigger point

RBI said the foreign investors will need the central bank's approval to buy equity in private sector lender.

Snowman Logistics extends rally on stake buy by Reliance MF, Radhakishen Damani

Radhakishen Damani and Reliance MF had collectively purchased 6 million shares of Snowman Logistics on Friday.

Back to Top