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At 11.50 AM, the stock has recovered from the day's low and is trading 1.5% lower at Rs 23.20 on the NSE.
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Hotel Leela Venture has dipped nearly 7% to Rs 22.05 in early morning deals on NSE on reports that the company it has not been able to pay Rs 22.50 crore as the first installment for servicing a debt to state-owned life insurer LIC and is seeking more time for repayment.
"The company was required to pay Rs 22.50 crore towards first instalment on March 31, 2014, which the company has not been able to pay. Further, the company has also not paid the quarterly interest, which fell due on June 19, 2014 and September 19, 2014," Hotel Leela Venture said in a filing to BSE.
At 0925, the stock was trading lower by 3% at Rs 22.95 on NSE. A combined around 150,000 shares changed hands on the counter on NSE and BSE.
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Hotel Leela Venture has dipped nearly 7% to Rs 22.05 in early morning deals on NSE on reports that the company it has not been able to pay Rs 22.50 crore as the first installment for servicing a debt to state-owned life insurer LIC and is seeking more time for repayment.
"The company was required to pay Rs 22.50 crore towards first instalment on March 31, 2014, which the company has not been able to pay. Further, the company has also not paid the quarterly interest, which fell due on June 19, 2014 and September 19, 2014," Hotel Leela Venture said in a filing to BSE.
At 0925, the stock was trading lower by 3% at Rs 22.95 on NSE. A combined around 150,000 shares changed hands on the counter on NSE and BSE.
