BSE haulted trading on McNally Bharat. Know why

McNally Bharat Engineering Company, an EPC services provider, was locked up on 20 percent circuit limit after the Kolkata-based company said it would raise up to `200 crores via equity sale/debentures/warrants to meet its Working Capital requirements and cut debt.

McNally Bharat's standalone interest costs surged to `225 crore in FY15 vs `151 crore in the previous year. The company reported a loss of `58.7 crore in the quarter ended March compared with a loss of `32.8 crore in the same period a year ago.

McNally's shares surged 16 rupees to 96.30 rupees and were locked on circuit. Nearly 26 lakh shares were traded

(Image credit: Indiatimes)