Moneycontrol Bureau
Shares of Thiru Arooran Sugars rallied 10 percent on getting advance against export of sugar.
The company has received USD 35.35 million equivalent to Rs 232 crore as advance against export of sugar over the next 8 years.
"Advance received has been primarily used for repayment of credit facilities availed by company from various banks," says the company.
Advance carries interest and is expected to reduce financing costs of company, it adds.
At 14:36 hours IST, the scrip of Thiru Arooran Sugars Industries was quoting at Rs 45.50, up Rs 0.60, or 1.34 percent on the BSE.Posted by Sunil Shankar Matkar
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