As insolvency process begins,Monnet Ispat rises 16.94%

Stock closed higher by 16.94% to Rs 35.20 on BSE on Jun'20.With banks planning to take up debt-laden Monnet Ispat & Energy for corporate insolvency resolution process (CIRP) under Insolvency & Bankruptcy Code, 2016,company’s shares surged.Among other companies which are facing bankruptcy action,Bhushan Steel rose by 8.91% & Amtek Auto by 9.17%.Lenders are likely to explore the process of resolution of company’s non-performing assets (NPAs) through various options.

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As insolvency process begins,Monnet Ispat rises 16.94%

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As insolvency process begins,Monnet Ispat rises 16.94%