McNally Bharat Engineering gains 5% on winning Rs242.07 crore arbitration award

21 Jul 2022 , 01:17 PM

McNally Bharat Engineering Company Ltd has informed that in the matter of arbitration between the company and Singareni Collieries Company Limited (the “Respondent”), the Arbitral Tribunal has published and delivered the Award at Delhi on July 19, 2022.

As per the Award, the company is awarded a total sum of Rs242,07,98,614 and the Singareni Collieries is directed to pay the same within one month from the date of the Award, the company said.

At around 1:19 PM, McNally Bharat Engineering Company was trading at Rs3.59 per share up by Rs0.17 or 4.97% from its previous closing of Rs3.42 per share on the BSE.