Arshiya hits the roof after exit from CDR scheme

Arshiya hit an upper circuit limit of 20% at Rs 51.15 at 14:29 IST on BSE after the company announced its exit from Corporate Debt Restructuring scheme.

The announcement was made during trading hours today, 5 January 2016.

Meanwhile, the BSE Sensex was down 13.93 points, or 0.05%, to 25,609.42.

On BSE, so far 8.70 lakh shares were traded in the counter, compared with an average volume of 1.17 lakh shares in the past one quarter. The stock hit a low of Rs 41.50 during the day. The stock hit a 52-week high of Rs 58.50 on 21 April 2015. The stock hit a 52-week low of Rs 16.40 on 9 January 2015. The stock had underperformed the market over the past one month till 4 January 2016, sliding 15.96% compared with 0.06% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 59.74% as against Sensex's 2.28% fall.

The small-cap company has an equity capital of Rs 31.24 crore. Face value per share is Rs 2.

Arshiya said that it received a letter from Corporate Debt Restructuring (CDR) Cell dated 29 December 2015, informing the exit of the company from CDR Scheme.

On consolidated basis, Arshiya reported a net loss of Rs 101.05 crore in Q2 September 2015 as against net loss of Rs 113.43 crore in Q2 September 2014. Net sales rose 3.04% to Rs 79.36 crore in Q2 September 2015 over Q2 September 2014.

Arshiya is an integrated supply chain and logistics infrastructure solutions provider.

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