India's Nitco hits more than 6-1/2 yr high on debt settlement with LIC
18/10/2024 07:31
** Shares of Nitco NCOT.NS rise to exchange-allowed
maximum of 5% to 121.30 rupees, highest since March 6, 2018
** Building products maker enters into one-time settlement
(OTS) with Life Insurance Corporation of India (LIC) LIFI.NS
for its debt facilities
** Says it paid OTS amount towards its entire outstanding
dues with LIC on Oct. 16
** More than 7 mln shares traded - 9.7x the 30-day avg - in
stock's most active session since early Dec 2017
** NCOT up 33.5% so far this week, set for best weekly gains
since early Nov 2023
** YTD, stock has more than tripled
(Reporting by Ashish Chandra in Bengaluru)
((ashish.chandra@thomsonreuters.com (+91 7982114624))