Arshiya International jumps as board to review CDR package

Arshiya International surged 9.02% to Rs 14.50 at 9:53 IST on BSE after the company said its board will meet on Thursday, 27 March 2014 to review restructuring package approved in CDR system by Corporate Debt Restructuring Cell.

The announcement was made after market hours on Saturday, 22 March 2014. A special live trading session was held on Saturday, 22 March 2014, as the National Stock Exchange (NSE) was testing its software.

Meanwhile, the S&P BSE Sensex was up 268 points or 1.23% at 22,023.32.

On BSE, so far 98,000 shares were traded in the counter as against average daily volume of 64,000 shares in the past two weeks.

The stock hit a high of Rs 14.63 and a low of Rs 14.19 so far during the day.

Arshiya International reported a consolidated net loss of Rs 121.57 crore in Q4 December 2013 as against net profit of Rs 30.87 crore in Q4 December 2012. Net sales declined 48.7% to Rs 160.29 crore in Q4 December 2013 over Q4 December 2012.

Arshiya International, a flagship company of the Arshiya Group, is an integrated supply chain and logistics infrastructure solutions provider.

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