BGR Energy Shares Tumble Over 7% After SBI Downgrades Credit Exposure
The company has an overall credit exposure of Rs 2,060 crore with SBI.
Shares of BGR Energy Systems Ltd. fell over 7% on Thursday after State Bank of India classified the company's credit exposure to the lender as 'sub-standard'.
The company has an overall credit exposure of Rs 2,060 crore with SBI, of which Rs 844 crore are fund-based and Rs 1,216 crore are non-fund based working capital facilities, according to an exchange filing.
While, Central Bank of India downgraded the company's asset classification with the bank to non-performing asset.
Shares of the company fell as much as 7.67%, the lowest since Dec. 14, 2023, before paring loss to trade 5.15% lower at 12:06 p.m. This compares to a 0.58% advance in the NSE Nifty 50.
The stock has risen 54.36% in the last 12 months. Total traded volume so far in the day stood at 1.4 times its 30-day average. The relative strength index was at 47.23.
