Moneycontrol Bureau
Shares of Shriram EPC gained 7 percent intraday Tuesday ahead of board meeting to decide loan conversion and capital infusion.
"Board of directors, on December 18, will consider and approve conversion of the working capital term loan of the CDR lenders into equity shares of the company," the turnkey contracting solutions provider in its filing to exchanges.
They will also consider promoter infusion of equity capital on preferential basis and increase of authorised share capital.
The company posted losses for last 11 consecutive quarters since January-March 2013 and the last order it received was in November 2013, as per BSE website data.
At 14:34 hours IST, the scrip of Shriram EPC was quoting at Rs 33.85, up Rs 1.25, or 3.83 percent on the BSE.
Posted by Sunil Shankar Matkar
