India's BGR Energy falls most in over a yr on loan default

BGR Energy Systems

08/01/2024 09:48

** Shares of BGR Energy Systems  BGRE.NS  fall as much as
8.7% to 86.2 rupees, steepest intraday fall since Oct. 17, 2022
    ** Construction and engineering co said on Monday it
defaulted on principal payment of 6.31 bln rupees ($75.88 mln)
owed to ICICI Bank  ICBK.NS , Indian Bank  INBA.NS  and Bank of
India  BOI.NS 
    ** More than 4.1 mln shares change hands by 3:10 p.m. IST,
2.4x the 30-day avg
    ** The co saw over 4 mln shares traded in a single
session six times in 2023
    ** Stock currently down 3.2% vs a 0.16% fall in the Nifty
Energy Index  .NIFTYENR  



($1 = 83.1564 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))