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    A2Z Infra Engineering jumps 9% as subsidiary looks to cut debt by Rs 416 crore

    Synopsis

    The company said the settlement may include transfer of two projects of its subsidiary ARZ Green Waste Management – a 500 TPD processing and disposal (P&D) unit at Indore city and a 1500 TPD of P&D collection & transportation (C&T) unit in Kanpur.

    rise-BCCL
    The stock rose 9.23 per cent to hit a high of Rs 41.40 on BSE.
    NEW DELHI: Shares of A2Z Infra Engineering shot up over 9 per cent in Wednesday’s trade after the company informed the stock exchanges that its subsidiary company A2Z Green Waste Management has agreed to a framework with one of its lenders for a settlement of its various debt obligations aggregating to Rs 416.18 crore.

    In a filing to BSE, the company said the settlement may include transfer of two projects of its subsidiary ARZ Green Waste Management – a 500 TPD processing and disposal (P&D) unit at Indore city and a 1500 TPD of P&D collection & transportation (C&T) unit in Kanpur.

    The stock rose 9.23 per cent to hit a high of Rs 41.40 on BSE. This was in addition to the gains seen in the previous session after the company won a contract by Chhattisgarh State Power Transmission Company for construction of 132 KV S/S Bijapur and associated extra high voltage (EHV) line on a turnkey basis.



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    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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