McNally Bharat Engineering Company Ltd updates on arbitration proceedings

McNally Bharat Engineering Company Limited in relation to Arbitration proceedings in connection with the Project "Ore Handling Plant (Package 01A) for IISCO under 2.5 MT New Stream Expansion" between the parties viz. McNally Bharat Engineering Company Limited (the "Claimant"/ the Company) and Steel Authority of India Limited, IISCO Steel Plant (the "Respondent"), an amount of Rs 19.79 Crores approximately has been awarded in favour of the Company along with interest @ 18% p.a. from the date of service of notice invoking arbitration till the date of payment of such amount.

Shares of Mcnally Bharat Engineering Company Limited was last trading in BSE at Rs. 5.09 as compared to the previous close of Rs. 5.00. The total number of shares traded during the day was 36963 in over 57 trades.

The stock hit an intraday high of Rs. 5.15 and intraday low of 4.90. The net turnover during the day was Rs. 185032.00.

Source : Equity Bulls

Keywords

McnallyBharatEngineeringCompany INE748A01016 MBECL ArbitrationAward SAIL