Ess Dee locked on 5% UC
By
Research Desk
about 8 years ago
Obviously something has been cooking in Ess Dee Aluminium, given the volatility of the stock price for past couple of days. On 5th Dec, the stock breached the UC at Rs.45 and also the LC at Rs.40.80. And today, the moment it opened for trade, it was locked at the 5% UC at Rs.44.35.
Now we know what was cooking - SSG Capital has agreed to participate in the revival of the company. The company has almost shut down production due to severe financial stress and dire liquidity.
SSG Capital coming in is subject to approval from Ess Dee’s bankers.
If all goes as per plans, the company is aiming to re-start production from Jan 2017. The company makes aluminium foil which is used for packaging purposes.