NEW DELHI: Shares of Eveready Industries climbed 5 per cent in Friday’s trade, only to erase gains. The scrip climbed as private sector lender Yes BankNSE -5.45 % acquired over 9 per cent stake in the battery maker by invoking pledged shares following loan default by a group company.
However, soon the stock cut gains to 1.85 per cent. At 9.20 am, the scrip was trading at Rs 71.50.
Shares of McLeod Russel tanked 5 per cent to Rs 12.95. YES Bank dropped 4.10 per cent to Rs 94.85.
On Wednesday, ratings agency IcraNSE -0.17 % downgraded the credit rating for Mcleod Russel’s long-term borrowing program and the short term rating to default grade.
Separately, Mcleod Russel resubmitted its revised statement on impact of audit qualifications along with annual audited financial results to the exchange
0 Comments