/ Mawana Sugars Jumps Over 3% On Debt Settlement With PNB ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 22 March 2017


Sugar manufacturing firm, Mawana Sugars, in Wednesday’s early trade, jumped over 3%, as the company recently announced that the board of directors have agreed to enter into a one time settlement with Punjab National Bank for settling its debts.

The company said that the purpose of the one time settlement (OTS) was for resolution of non-performing assets (NPA) debt. According to Punjab National Bank the sugar firm settled total dues of Rs 109.46 crore for an agreed consolidated amount of Rs 79.79 crore. The amount will be payable without interest over a period of 15 months.

The sugar stock on the NSE has delivered a whopping 275% returns in a period of one year, outperforming the BSE Small Cap and BSE Sensex indices over the same time span.

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