Thiru Arooran Sugars receives Rs.232 crore advance against export of sugar

The advance received has been primarily used for repayment of the credit facilities availed by the company from various Banks.

Jan 06, 2016 11:01 IST India Infoline News Service

Thiru Arooran Sugars Ltd has informed BSE that the company has received USD 35.35 million equivalent to Rs. 232 crores as advance against export of sugar over the next 8 years. The advance received has been primarily used for repayment of the credit facilities availed by the company from various Banks.

The advance carries interest as per extant RBI Guidelines and is expected to reduce the financing costs of the Company.

Thiru Arooran Sugars Ltd is currently trading at Rs. 47.65, up by Rs. 2.75 or 6.12% from its previous closing of Rs. 44.9 on the BSE.

The scrip opened at Rs. 44.45 and has touched a high and low of Rs. 49.35 and Rs. 44.45 respectively. So far 112812(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 50.83 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 55.25 on 15-Jan-2015 and a 52 week low of Rs. 22.15 on 11-Sep-2015. Last one week high and low of the scrip stood at Rs. 45.4 and Rs. 40.3 respectively.

The promoters holding in the company stood at 62.31 % while Institutions and Non-Institutions held 2.23 % and 35.45 % respectively.

The stock is currently trading below its 50 DMA.

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