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Bharat Road Network shares freeze at 20% upper circuit

  • Jun 30, 2022, 10.45 AM
  • DealMoney News Service

Portions of Bharat Road Network were secured in a 20 percent upper circuit on June 30 after the organization got more than Rs 90 crore from the whole stake deal in its partner firm.

The stock shut at Rs 32 with the development of a vigorous bullish candle design on the everyday graphs.

The organization has stripped its whole 40% stake held in its partner Shree Jagannath Expressways Private Limited (SJEPL) and got Rs 94.1 crore from the buyer - Indian Highway Concessions Trust acting through its speculation administrator.

Bharat Road Network's value openness in SJEPL was Rs 112.16 crore.

"... has effectively fulfilled the exchange examined under Securities Purchase Agreement (with Indian Highway Concessions Trust) dated January 21, 2021, on June 28, 2022," Bharat Road Network said.

Aside from the abovementioned, the Kolkata-based street BOT (fabricate work move) organization in its BSE documenting said specific reason vehicle, in particular SJEPL has claims against NHAI of around Rs 700 crore forthcoming pacification.
According to concurrences with the buyer, Bharat Road Network is qualified for get the further sum in proportionate to its shareholding (40%) on effective finishing of appeasement or judicial actions.