Maharashtra Seamless Stock: Company repays long-term loan, shares surge by 5%
Maharashtra Seamless (Maharashtra Seamless) stock on the Bombay Stock Exchange (BSE) rose by 5% during Monday’s intra-day trade, reaching a new high of INR 495.65. This surge came after the company announced that it had repaid a long-term loan worth INR 234 crore and was now completely debt-free.
Here are the key highlights of the announcement:
– Maharashtra Seamless repaid a long-term loan worth INR 234 crore, according to a statement released to the BSE.
– The company chose to make the payment earlier than scheduled due to a strong order book and robust liquidity.
– This marks the second instance of Maharashtra Seamless making an early repayment of long-term debt in the last eight months.
– The company’s shares have delivered a maximum return of 13,373.31% and have risen from INR 3.56 to INR 479.65 over the years.
The announcement has been well-received by investors, with the stock price surging on the BSE. Maharashtra Seamless has a strong reputation for timely repayments and financial stability, which has made it a popular choice among investors.
In the last five years, the company has delivered returns of 110.70% and 54.89% annually, and it has risen by 49.38% year-to-date. These figures are a testament to Maharashtra Seamless’ financial performance and its ability to deliver value to its shareholders.
Overall, the company’s decision to repay its long-term debt ahead of schedule reflects its financial prudence and a commitment to its investors. The move will reduce its debt burden and free up cash flows, providing a boost to its growth prospects and shareholder value.
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