Orient Green Power Shares Surge Over 17% After Repaying All Secured Debts
The company has repaid the entire principal and interest amount that were outstanding on the loan taken from Yes Bank.
Shares of Orient Green Power Co. surged over 17% to hit an 18-month high on Tuesday after it repaid all secured dues to Yes Bank Ltd.
The renewable energy producer has repaid the entire principal and interest amounts that were outstanding on the loan taken from Yes Bank. The company has no other secured loan obligations, according to an exchange filing on Monday.
Shares of Orient Green were trading 14.74% higher at Rs 16.35 apiece as of 11:57 a.m., compared to a 0.09% decline in the benchmark NSE Nifty 50. The stock rose as much as 17.89% to an intra-day high of Rs 16.80 apiece, the most since Feb. 1, 2022.
It has risen nearly 28.4% year-to-date. The total traded volume stood at 9.6 times its 30-day average. The relative strength index at 86, implying that the stock maybe overbought.
