Latest News
-
Ensure Children Up to 12 Years Are Allocated Seats With Their Parents In Flight: DGCA Tells Airlines -
Vodafone Idea Approves Offer Price Of Rs 11 Per Equity Share For Rs 18,000 Crore-FPO -
Reliance Industries Sets Record: First Indian Company Tops Rs 1L Cr Profit -
1:1 Bonus Issue: Engineering Stock Turned Ex-Bonus On April 23, Hits New 52-Week High; Gives 268% Returns -
Vodafone Idea Shares Soar 7% Following Strong FPO Subscription; GMP Hints Premium Shares; Details -
Karnataka, Gujarat Lead India's Clean Energy Transition Race, Report Shows -
Gold Price India: 24K Of 100 Grams Gold Falls By Rs 15,300 Today, Biggest Dip In April -
JNK India IPO: Public Issue Opens Today; GMP Hints Premium Listing; Check Subscription Status -
Fraud Worth Rs 150 Crore Detected at M&M Financial Services Branch; Board Meeting Deferred -
40% Of India's Silver Now Imported From UAE, Thanks To CEPA
Orchid Chemicals' stock down by 17%
The company has received a sanction of US $100 million by way of ECBs to repay the maturing bonds, K Raghavendra Rao, chairman and managing director, Orchid Chemicals told CNBC TV 18.
He further added that the company has also some internal accruals which will be used to repay the FCCBs.
The company's scrip touched a 52-week low over the news. At 2:15 pm IST, the company's stock was trading low at Rs 122.20 on BSE, down by 9.65% or 13.05 points. It touched an intraday low of Rs 112.25.
The company also mentioned about their hedge against currency fluctuation as their 85% sales comes in US dollars.
“We are replacing dollars with dollars and our borrowing is less than the repayment, so repayment issue will not be there after bonds mature in February,” chairman added.
GoodReturns.in
