After falling 40 percent in the last two sessions, CEBBCO recovered today on clarification from the management that the fundamentals of the company are strong. Speaking to CNBC-TV18, Ajay Gupta, executive director said the stock fall was beyond his understanding.
CEBBCO's Rs 100 crore capex programme got underway to enhance its commercial vehicle body production capacity. CEBBCO plans to fund the capex programme with a term loan of approximately Rs 60 crore and the rest would be from internal accruals, said whole time executive director Ajay Gupta.
In an interview with CNBC-TV18, Ajay Gupta, whole time executive director, Cebbco said that the company is facing a slowdown of orders and payments from the railways, and is slightly worried on that front.