S Chand and Company Ltd approves corporate guarantee of Rs. 28 crores in favor of SBI

The Board of Directors of S Chand and Company Ltd at its meeting held on December 10, 2020 have approved the Corporate Guarantee for an amount of Rs. 28.00 crores (Rupees Twenty Eight Crores Only) in favour of State Bank of India against the cash credit facility sanctioned to Vikas Publishing House Private Limited (a wholly owned subsidiary of the Company).

The corporate guarantee is to be provided to State Bank of India to secure the cash credit facility of Rs. 28.00 crores being sanctioned to Vikas. In this facility State Bank of India will take over the existing cash credit facilities sanctioned by DBS Bank, Standard Chartered Bank and RBL Bank to Vikas.

Shares of S Chand and Company Ltd was last trading in BSE at Rs.72.9 as compared to the previous close of Rs. 72.8. The total number of shares traded during the day was 146924 in over 1860 trades.

The stock hit an intraday high of Rs. 77 and intraday low of 70.65. The net turnover during the day was Rs. 10799010.

Source : Equity Bulls

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