Cox & Kings hit a lower circuit of 5% at Rs 19 at 11:07 IST on BSE after the company defaulted on repayments.
The announcement was made after market hours yesterday, 16 July 2019.Meanwhile, S&P BSE Sensex was up 124.23 points or 0.32% at 39,255.27.
On BSE, 14,000 shares were traded in Cox & Kings counter, compared to a 2-week average of 78,000 shares. The share price hit an intraday high and a 52-week intraday low of Rs 19 today, 17 July 2019. It hit a 52-week high of Rs 211.90 on 31 October 2018.
Shares of Cox & Kings plunged 61.96% in sixteen trading sessions to its current market price of Rs 19, from a recent closing high of Rs 49.95 on 25 June 2019.
Cox & Kings said it had defaulted on its repayment obligations on commercial papers worth Rs 45 crore, while the interest of Rs 41 lakh could not be timely paid on bonds worth Rs 50 crore.
On a consolidated basis, Cox & Kings reported a net loss of Rs 499.72 crore in Q4 March 2019 as compared with a net loss of Rs 46.86 crore in Q4 March 2018. Net sales rose 6.4% to Rs 1,258.52 crore in Q4 March 2019 over Q4 March 2018.
Cox & Kings is a global travel company.
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