India's AGS Transact hits record low after default

AGS Transact Technologies

07/03/2025 04:56

** Shares of AGS Transact Technologies AGST.NS fall 5% to maximum-allowed limit of 15.4 rupees, marking a new record low

** Stock eyes 26th straight session of falls

** Payment solutions operator and its units defaulted in paying obligations worth 385.9 mln rupees ($4.4 mln) to creditors

** Stock has hit lower circuit everyday since February 4, after CRISIL Ratings downgraded co's rating to CRISIL D from CRISIL A/Stable

** Stock down 75% so far this year, eyes worst year since trading debut in 2022

($1 = 87.1630 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)

 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))