S Chand and Company Ltd avails working capital facility from SBI

The Board of Directors of S Chand and Company Ltd at its meeting held on September 27, 2021 has approved a working capital facility upto an amount of Rs. 40.00 Crores (Rupees Forty Crores Only) from State Bank of India ("SBI"). This facility has been availed from SBI at a competitive rate of interest. The purpose of this facility is to takeover the existing credit facilities or the Company under Multiple Banking from Kotak Mahindra Bank, Standard Chartered Bank, DBS Bank, Tata Capital Financial Services Limited (unsecured). Post takeover of these facilities the Company is expected to have an annualised estimated savings of Rs. 7 millions. The Company has entered into a loan agreement with SBI.

Shares of S Chand And Company Limited was last trading in BSE at Rs. 113.4 as compared to the previous close of Rs. 111.65. The total number of shares traded during the day was 5625 in over 221 trades.

The stock hit an intraday high of Rs. 116.8 and intraday low of 112. The net turnover during the day was Rs. 643237.

Source : Equity Bulls

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