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NR Agarwal Industries surges on exit from CDR

The stock hit a 52-week high of Rs 209, has rallied 56% in past four sessions from Rs 134 on September 30, 2016.

SI Reporter  |  Mumbai 

NR Agarwal Industries has surged 10% to Rs 202 on BSE in an otherwise weak market after the company said that it has exited from corporate debt restructuring (CDR).

The company engaged in paper & paper products business said the CDR Cell, vide its letter dated August 30, had approved the exit of the company, subject to payment of recompense amount. “The company was awaiting a confirmation letter from Bank of Baroda regarding the recompense amount which has been received on October 05, 2016 confirming the earmarking of the recompense amount by the company,” NR Agarwal ...

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First Published: Fri, October 07 2016. 10:02 IST
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