Monnet Ispat & Energy rebounds from 3-month lows on plans to take measures to cut down on debt payments
Advertisement
Advertisement
Monnet said it was in talks with larger rival
Debt-laden Monnet will still have 7,000 crore rupees of loans on its balance sheet after the proposed sale of its power division.
Monnet rose 2.35 rupees, or 7.5 percent, to 33.60 rupees on the
Monnet has seen its market capitalisation plunge 71 percent to 201 crore rupees in the past one year as investors exited the steel sector globally owing to a sharp fall in demand. Lower sales have made servicing debt difficult for steel companies of all sizes, prompting them to push for asset sales.
Advertisement
(Image credits: Indiatimes)
Advertisement
- 5 things to avoid doing if your phone gets wet
- Intense rains quench Uttarakhand’s wildfire frenzy; Supreme Court tells state govt. to stop relying on rain god
- IPL decoded: Can RCB still qualify? Probabilities of IPL teams qualifying for the playoffs
- IPL decoded: Hasty 100s - The fastest centuries in IPL 2024 so far
- 5 pasta types for home cooking enthusiasts