India's Vikran Engineering rises after unit secures IREDA funding
BUZZ-India's Vikran Engineering rises after unit secures IREDA funding ** Shares of India's Vikran Engineering VIKN.NS rise 12.9% to 62.85 rupees
** Stock on track to snap four consecutive sessions of losses, if current trend holds
** Stock posts its highest intraday percentage gain since April 8
** The construction and engineering company's unit NOPL Solar Projects signed facility agreement for term loan of up to 29.41 billion rupees ($308.82 million) with Indian renewable energy development agency (IREDA)
** Financing for 35.18 billion rupees solar project has been finalized, enabling project execution, company says** Over 12.9 million shares traded, over 5.7x the 30-day avg
** Stock down 37.18%, YTD
($1 = 95.2350 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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