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GNCL shines on getting nod for CDR proposal

25 Mar 2014 Evaluate

Gujarat NRE Coke is currently trading at Rs. 8.59, up by 0.81 points or 10.41 % from its previous closing of Rs. 7.78 on the BSE.

The scrip opened at Rs. 7.71 and has touched a high and low of Rs. 8.75 and Rs. 7.71 respectively. So far 742215 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 18.30 on 03-Apr-2013 and a 52 week low of Rs. 7.60 on 28-Nov-2013.

Last one week high and low of the scrip stood at Rs. 8.00 and Rs. 7.72 respectively. The current market cap of the company is Rs. 494.40 crore.

The promoters holding in the company stood at 51.27 % while Institutions and Non-Institutions held 17.15 % and 31.58 % respectively.

Gujarat NRE Coke (GNCL) has received formal approval for restructuring of its debts from the Empowered Group of Corporate Debt Restructuring Cell (CDR). The salient features includes Debt restructured for 10 year door-to-door, with two year moratorium and ballooning repayment, Funding of interest for two years, Competitive pricing /interest rate, Additional need based working captial aggregating to Rs 370 crore and Fresh Term Loan of Rs 50 crore  for completing the Waste Heat Recovery Based (WHRB) power plants at Dharwad, Karnataka.

Gujarat NRE Coke is the only Indian company with coking coal mines in Australia having over 650 million tonnes of Coking Coal resources with excellent coking properties. The coal mines are owned through its subsidiary- Gujarat NRE Coking Coal, listed on the ASX

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Company Name CMP
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Linde India 7075.45
Refex Industries 256.80
IRM Energy 210.85
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