India's BGR Energy Systems sinks after bankers downgrade account

BGR Energy Systems

04/01/2024 04:53

** Shares of BGR Energy Systems Ltd  BGRE.NS  down 5.3% at
92 rupees
    ** BGRE says State Bank of India classified firm's credit
exposure with lender as "sub-standard", while Central Bank of
India downgraded co's asset quality with bank to non-performing
asset (NPA)
    ** The maker of equipment for power plants says it has been
regularly servicing interest and other charges to both banks
    ** Stock falls most since Dec. 20 when it was asked by
Canara Bank to clear its outstanding liabilities immediately
    ** BGRE fell 5% or lower only thrice in 2023
    ** Three other banks classified loss-making firm's accounts
as NPA in November
    ** Around 1.4 mln shares traded


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))