Premier has volatile day

Premier Ltd is most certainly one of the most volatile stocks traded today. Clocking volumes of over 9 times, the stock price hit the 5% UC at Rs.3.24 and LC too at Rs.2.94; all in the same day. It is currently ruling in the positive at Rs.3.61, up over 1.5%.

The company yesterday announced that it has paid in full an OTS amount of. RS.31.17 crore consisting of principal amount to the Corporation Bank as full and final settlement of their dues.

As a result, the necessary consent terms have been filed before the National Company Law Tribunal, Mumbai (NCLT), Mumbai, resulting in disposal of the petition by NCLT.

Corporation Bank had filed an application before the NCLT  for recovery of its dues amounting to Rs 51.99 crore and finally arrived at this one-time settlement of Rs.31.17 crore with the Corporation Bank.