Yash Papers up 11%, board approves CDR exit

The company is going to pay recompense amount to consortium banks led by United Bank to exit CDR.

August 01, 2016 / 11:52 IST

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Moneycontrol BureauShares of Yash Papers added 11 percent intraday Monday as board approved the proposal to exit from corporate debt restructuring.The company is going to pay recompense amount to consortium banks led by United Bank to exit CDR.The Oriental Bank of Commerce, which is monitoring agency has given its mandate for the same.The company has posted first quarter net profit at Rs 1.11 crore against Rs 21.90 lakh, in the same quarter last fiscal.At 11:11 hrs Yash Papers was quoting at Rs 21, up Rs 1.20, or 6.06 percent on the BSE.Posted by Rakesh Patil

first published: Aug 1, 2016 11:14 am

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