Lypsa Gems and Jewellery reduces secured debt by 25%

India Infoline News Service | Mumbai | October 18, 2016 17:27 IST

The company has paid Rs 7.50 crore to Bank of India to reduce the debt burden. Debt Equity Ratio has dropped from 1.03x to 0.75x.

Lypsa Gems and Jewellery has reduced its secured debt by 25%. As of today, the company’s debt stands at Rs 23.50 crore down from Rs 31 crore as of March 31, 2016. The company has paid Rs 7.50 crore to Bank of India to reduce the debt burden. Debt Equity Ratio has dropped from 1.03x to 0.75x.

This is a remarkable achievement by the Company, especially in the hard times that the diamond industry has been facing. Lypsa is amongst one of the very few Diamond companies to have initiated Debt Repayment.

Stock Commentary

Lypsa Gems & Jewellery Ltd is currently trading at Rs 57.4, down by Rs 1.55 or 2.63% from its previous closing of Rs 58.95 on the BSE.

The scrip opened at Rs 60.7 and has touched a high and low of Rs 63.15 and Rs 56.05 respectively. So far 762382(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 124.15 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 154.5 on 06-Jan-2016 and a 52 week low of Rs 52 on 29-Sep-2016. Last one week high and low of the scrip stood at Rs 64.7 and Rs 58.55 respectively.

The promoters holding in the company stood at 36.04 % while Institutions and Non-Institutions held 0.85 % and 63.11 % respectively.

The stock is currently trading below its 200 DMA.

***Note: This is a NSE Chart

 

Advertisements

  • Get your free IIFL Demat & Trading A/c now...Click here
  • Get IIFL express personal loan disbursal in just 8* hours...Know More
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.