The company has informed the BSE that B.L Kashyap and Sons has received an approval for restructuring of its Debt by the CDR Empowered Group of Corporate Debt Restructuring Cell and communicated vide its Provisional Letter of Approval dated December 31, 2014. The Company is in the process of executing Master Restructuring Agreement (MRA) with the CDR lenders.
The stock opened with a surge of 8.9 per cent at Rs. 16.50. So far, the stock has touched a high at Rs. 17.40 - up 14.8 per cent from its previous close.
Now, the stock is up 12.2 per cent at Rs. 17. The stock has seen huge trades of around 149,000 shares, which is more than four time, when compared with its two-week daily average volume of 32,000 shares.
Meanwhile, the BSE Sensex has added 65 points at 27,953.