Bhushan Steel Ltd has clarifies on nod for restructuring loans

Bhushan Steel Ltd has clarified with reference to the news flashed on CNBC TV 18, dated June 05, 2015 captioned "Bhushan Steel gets lenders NOD for restructuring."

As referred in the news, on 15th December 2014, RBI announced a scheme for long term structuring of Loans in line with Cash Flows. The Joint Lenders Forum have agreed to extend the Loans of BSL for a tenure of 25 years under the said scheme. However, the respective authorities of the banks have to approve the scheme, which is under process with the respective banks.

We have received the sanction from some banks only however the sanction from rest of the Banks are still awaited.

Shares of BHUSHAN STEEL LTD. was last trading in BSE at Rs.60.5 as compared to the previous close of Rs. 50.45. The total number of shares traded during the day was 538977 in over 5833 trades.

The stock hit an intraday high of Rs. 60.5 and intraday low of 49. The net turnover during the day was Rs. 31141453.

Source : Equity Bulls

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