Indosolar gets eclipsed
By
Research Desk
about 9 years ago
Indosolar breached the 5% lower circuit at Rs.10.16 on two not-so-good news. First was the poor show for Q3FY16. It posted a loss for the quarter Rs.38 crore v/s loss of Rs.10 crore (YoY) on this was on a 23% drop in total income at Rs.80 crore.
The second news was that it has informed the stock exchanges that the company was looking at the option of selling its asset to Asset Restructuring Company (ARC) and was also looking at a change in the management. This sale to ARC is because banks have refused to consider a second restructuring proposal.