Cox & Kings hits lower circuit on payment default

Reuters | Updated on June 28, 2019 Published on June 28, 2019

Shares of travel company Cox & Kings plunge 10 per cent to ₹36.8 to hit lower circuit. The company Thursday said it defaulted on ₹150 crore ($21.75 mln) payment of commercial papers.

The travel firm was supposed to pay ₹200 crore but was able to pay ₹150 crore. “The company is working towards plans to make good its obligations,” the firm said in a statement.

Stock hits record low. At 12.05 pm, the stocks of Cox & Kings were trading 10 per cent lower at ₹36.45.

($1 = 68.9700 Indian rupees)

Published on June 28, 2019
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