Karuturi Global jumps as bond holders agree to restructure FCCBs

Karuturi Global jumped on Thursday after the company received approval from bond holders for restricting of outstanding FCCBs amounting to USD 39 million through a written resolution.

The written resolution involves extension of maturity of the current FCCBs, part redemption of the FCCBs and part refinance by cashless exchange of FCCBs for new FCCBs subject to RBI approval. The company has approached RBI for approval for restructuring. Shares ofthe companyare trading at Rs 3.18, up Rs 0.21, or 7.07% at the Bombay Stock Exchange (BSE) on Thursday at 2:41 p.m.The scrip has touched an intra-day high of Rs 3.35 and low of Rs 3.00. The total volume of shares traded at the BSE is 760,385.In the earlier session, the shares lost 0.34%, at Rs 2.97. Currently, the stock is trading down 46.55% from its 52-week high of Rs 5.95 and above 19.55% over the 52-week low of Rs 2.66.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 2.87 0.10 3.48 1 Month 2.89 0.08 2.77 3 Months 3.49 (0.52) (14.90) 6 Months 3.63 (0.66) (18.18) 1 Year 5.58 (2.61) (46.77) Note: Based on previous day closing price.