Ess Dee Aluminium up 5%, SSG Capital to provide fund for revival

Moneycontrol BureauShare price of Ess Dee Aluminium has locked at 5 percent upper circuit as SSG Capital has agreed to participate in the revival of the company.The company is suffering from severe financial stress due to liquidity constraints due to which the company's plant being non-operational with negligible production.The funds managed /advised by SSG Capital Management and their associates have agreed to participate in the revival of the company.The agreement is subject to the consent from the company's bankers/lenders to facilitate a re-working of company's capital structure to long term sustainable levels.The company is hopeful of recommencing the production early in the new calendar year.At 09:47 hrs ESS DEE Aluminium was quoting at Rs 44.35, up Rs 2.10, or 4.97 percent on the BSE.There were pending buy orders of 36,245 shares, with no sellers available.Posted by Rakesh Patil