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A2Z Infra hits the roof after one-time debt settlement

Capital Market 

hit an upper circuit limit of 5% at Rs 18.05 at 11:48 IST on BSE after the company said it signed full cash one time debt settlement agreement with

The announcement was made during trading hours today, 15 March 2019.

Meanwhile, the S&P was up 206.38 points, or 0.55% to 37,961.27.

On the BSE, 51,000 shares were traded in the counter so far compared with average daily volumes of 1.31 lakh shares in the past two weeks. The stock had hit a low of Rs 16.60 in early trade. The stock hit a 52-week high of Rs 32.10 on 16 March 2018. The stock hit a 52-week low of Rs 8.19 on 4 October 2018.

had availed financial assistance as term loan from and has assigned all the rights, title and interests in the financial assistance granted by it to the company, in favour of (the 'Lender'), acting in its capacity as of EARC Trust SC 217 vide Assignment Agreement executed in favour of EARC on 29 June 2016.

The outstanding of Edelweiss as on 31 March 2018 was Rs 177.69 crore (including interest) and the same is settled for a total settlement consideration of Rs 41 crore. With this settlement, the debt of the company shall stand reduced by Rs 177.69 crore.

Net profit of rose 459.80% to Rs 5.71 crore on 70.03% rise in net sales to Rs 152.09 crore in Q3 December 2018 over Q3 December 2017.

A2Z Infra Engineering is a fully integrated group in catering to the needs of domestic and international power sector clients in building distribution &

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 15 2019. 11:54 IST