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Jindal Drilling slips as arbitration award passed against company

The stock slipped 6% to Rs 174 on the BSE in noon deal trade.

SI Reporter  |  Mumbai 

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters

slipped 6% to Rs 174 on the BSE in noon deal trade after the exploration & production firm said an award has been passed against the company to make payment of $31.8 million by way of damages.

“An award has been passed against the company to make payment towards principal outstanding amount of $31.8 million by way of damages,” Jindal Drilling said in a statement.



“Interest on the damages awarded accruing at the daily rate of US prime plus 1%, compounded quarterly until the date of payment and cost of and other expenses,” it added.

The company said it is taking necessary steps to contest in relation to the award.

Till 12:36 pm; a combined 156,959 shares changed hands on the counter on the BSE and NSE. 

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Jindal Drilling slips as arbitration award passed against company

The stock slipped 6% to Rs 174 on the BSE in noon deal trade.

The stock slipped 6% to Rs 174 on the BSE in noon deal trade. slipped 6% to Rs 174 on the BSE in noon deal trade after the exploration & production firm said an award has been passed against the company to make payment of $31.8 million by way of damages.

“An award has been passed against the company to make payment towards principal outstanding amount of $31.8 million by way of damages,” Jindal Drilling said in a statement.

“Interest on the damages awarded accruing at the daily rate of US prime plus 1%, compounded quarterly until the date of payment and cost of and other expenses,” it added.

The company said it is taking necessary steps to contest in relation to the award.

Till 12:36 pm; a combined 156,959 shares changed hands on the counter on the BSE and NSE. 
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Business Standard
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Jindal Drilling slips as arbitration award passed against company

The stock slipped 6% to Rs 174 on the BSE in noon deal trade.

slipped 6% to Rs 174 on the BSE in noon deal trade after the exploration & production firm said an award has been passed against the company to make payment of $31.8 million by way of damages.

“An award has been passed against the company to make payment towards principal outstanding amount of $31.8 million by way of damages,” Jindal Drilling said in a statement.

“Interest on the damages awarded accruing at the daily rate of US prime plus 1%, compounded quarterly until the date of payment and cost of and other expenses,” it added.

The company said it is taking necessary steps to contest in relation to the award.

Till 12:36 pm; a combined 156,959 shares changed hands on the counter on the BSE and NSE. 

image
Business Standard
177 22