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PTC India Financial rallies ~20% on receiving satisfactory report by Agency for Specialized Monitoring

The ASM report highlighted that the company is maintaining the required levels of transparency in terms of data submission to the lenders as stipulated at the time of sanction.

July 05, 2022 2:53 IST | India Infoline News Service
PTC India Financial Services’ counter jumped nearly 20% in today’s trade as the company received a satisfactory report by Agency for Specialized Monitoring (ASM) appointed by lenders.

The ASM report highlighted that the company is maintaining the required levels of transparency in terms of data submission to the lenders as stipulated at the time of sanction.

"The cash flows for the review period were normal, and no funds were diverted in any way. The loan funds obtained by the company from banks/FIs have been used for the intended purpose," it stated further.

The report also found no instances of suspicious activity/transactions, misrepresentation/suppression of facts, or fraudulent practices. The business operations of the company were found to be satisfactory, as were the company's overall dealings.

At around 2.51 PM, PTC India Financial was trading at Rs16.35, up by 19.78% against its previous close of Rs13.65 on NSE.

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