Rudra Investment Stock Market Report says The shares of Sinhholi Sugars in the business of Tuesday have been quite strong. During the business, shares rose by 16 percent to Rs 16.20 per share. The company has made a statement on the loan repayment that it is committed to clearing all its outstanding. Since then the stock has risen sharply.

A company statement has come that company management will soon have their clericalization on loan taken from Oriental Bank of Commerce. Apart from this, we are fully committed to repaying the loan of the bank. The company has also said that in this case, we are fully cooperating with the investigation agencies.

What is the case

The CBI filed a case against Sinboli Sugar Ltd for not paying a loan of Rs 109 crore on Sunday (February 25). This company is listed on BSE and is one of the largest Chinese companies in the country. According to the CBI, Sidhholi Sugar Limited located in Hapur, in the year 2011, wrongly funded the funds received in the form of debt. The company got this loan for cane farmers and self-help groups. Officials said that the bank sanctioned a loan of Rs. 148.60 crore to the company in 2011. The company has alleged that it used the funds for personal needs.

Move on such a Stock Market

The shares of Sinhholi Sugars Limited were closed on Monday at a price of Rs 14.25 on the NSE. On Tuesday, the stock opened at a price of 14.75 rupees. During the business, shares rose by 16 percent to Rs 16.20 per share. The price of 14.75 rupees is being taken today for the share. At the end of the trading, the stock closed at a price of Rs 15.50 with an increase of 8.77 percent.

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