Tilaknagar Industries hits the roof after settling dues

Tilaknagar Industries hit an upper circuit limit of 5% at Rs 16.97 after the company said it settled the dues of IDBI Bank under IDBI-Rinn Mukti Yojna 2019-20 Scheme.

The liquor maker announced during trading hours on Monday (27 January) that as per the one time settlement (OTS), it paid Rs 16.04 crore towards full and final settlement of the total dues of Rs 44.13 crore payable to the bank as per the company's records. Prior to this, the company's account was classified as non-performing asset (NPA) by IDBI Bank.

Meanwhile, the S&P BSE Sensex was down 434 points or 1.04% to 41179.27.

On the BSE, 13,552 shares were traded in the counter so far compared with average daily volumes of 7,419 shares in the past two weeks. The stock hit a high of Rs 16.97 and a low of Rs 16.6 so far during the day.

The stock hit a 52-week high of Rs 20.18 on 28 Nov 2019. The stock hit a 52-week low of Rs 11.6 on 08 Jul 2019.

The small cap company has equity capital of Rs 125.13 crore. Face value per share is Rs 10.

Tilaknagar Industries is engaged in manufacturing Indian Made Foreign Liquor (IMFL).

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