Announced Thu, 20 Aug · 16:26 IST
RKEC Projects defaults on Rs 63.42 Cr loan repayments to multiple lenders
RKEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
RKEC Projects has defaulted on principal and interest payments to lenders including Bank of Baroda, HDFC, ICICI, Kotak Mahindra, Mahindra Finance, HDB, Bandhan, CSB and others. Total outstanding debt is Rs 229.32 Cr, with current defaults of Rs 55.90 Cr in principal and Rs 7.52 Cr in interest. The company says it is hopeful of additional fund infusion to discharge the liabilities.
Likely market impact
Severe negative signal. Default on Rs 63 Cr debt raises serious solvency concerns. Stock likely to face heavy selling pressure.