KNR Constructions Ltd denies interest free loan to promoters

KNR Constructions Ltd has clarified with reference to certain information being circulated in social media regarding "Promoters of Company taking large interest free loan from the Company".

The company has clarified that the promoters have extended unsecured loan of Rs 214.08 Cr to the Company, at the interest rate of 8.45% p.a. to defray the term loan of one of the SPV.

There are no loans and advances given by the Company to promoters.

Shares of KNR CONSTRUCTIONS LTD. was last trading in BSE at Rs.236 as compared to the previous close of Rs. 249.1. The total number of shares traded during the day was 18810 in over 730 trades.

The stock hit an intraday high of Rs. 251.4 and intraday low of 233. The net turnover during the day was Rs. 4526311.

Source : Equity Bulls

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