The share price of Gujarat base textile business company Sintex Industries is in the lower circuit today.
This company was established in 1930 but due to rising competition and covid-19, the company’s sales started getting hit. There were claims of Rs 7500 crore against the company due to which Sintex Industries filed bankruptcy last year.
As per the latest report Sintex Industries’ committee of creditors (CoC) has voted in favor of the resolution plan given by Reliance Industries (RIL) and asset reconstruction firm Assets Care & Reconstruction Enterprise (ACRE).
According to this resolution plan, the existing share capital of Sintex Industries will become zero, and the stock of the company will also be delisted from BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) exchanges.
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This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.
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