03:27
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McNally Bharat Engineering Company (MBECL) is reportedly planning to raise around Rs 175 crore through fresh equity issue by the end of this financial year. The company is seeking equity fund to lower its current finance cost.
In 2013-14, more than 50 per cent rise in finance cost had forced the company to report loss. Despite good order book position, slow or delayed payments prompted the company to depend more on borrowing to meet larger working capital requirement.
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Posted in: Indian Market Tips
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