Shree Ganesh Jewellery surges 5% on CDR plans - The New Indian Express

Shree Ganesh Jewellery surges 5% on CDR plans

Published: 20th December 2013 01:19 PM

Last Updated: 20th December 2013 01:19 PM

Shree Ganesh Jewellery House (I), engaged in manufacturing and exports of gold and diamond jewellery, surged on Friday after the company has approached State Bank of India (SBI) for referring to Corporate Debt Restructuring Cell for Corporate Debt Restructuring (CDR) of its debts. CDR is a mechanism adopted in India which permits viable companies additional time to meet debt obligations, subject to certain terms and conditions.Shares ofthe companyare trading at Rs 24.40, up Rs 1.15, or 4.95% at the Bombay Stock Exchange (BSE) on Friday at 12:50 p.m.The scrip has touched an intra-day high of Rs 24.40 and low of Rs 23.30. The total volume of shares traded at the BSE is 50,820.In the earlier session, the shares climbed 4.97%, or Rs 1.1, at Rs 23.25. Currently, the stock is trading down 82.51% from its 52-week high of Rs 139.50 and above 19.02% over the 52-week low of Rs 20.50.

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