BackExxaro shares hit upper circuit after company's debt-free announcement
Exxaro share price: Number of sellers for the counter became zero when the Indian exchanges shared the company's debt free announcement on their website.
PremiumExxaro share price today hit 5 per cent upper circuit after the company's debt-free announcement. Number of sellers for the counter became zero when the Indian exchanges shared the company's announcement on their respective websites. In its information under pursuant to relevant regulation SEBI Regulations 2015, Exxaro Tiles management informed Indian exchanges that the 'company has become long-term debt-free.'
Exxaro Tiles management made the debt-free announced via information under pursuant to relevant regulation SEBI Regulations 2015 citing, "Further to our earlier announcement on 18th August 2021 for long term debt repayment as per its specific Objects Clause in the Prospectus, we are happy to inform you that The Company has also prepaid all its remaining existing long-term debt and subsequently The Company has become long term debt-free."
Exxaro shares shoot northward immediately after the Indian exchanges shared the company's long-term debt-free announcement and hit 5 per cent upper circuit. Currently, the stock is available at ₹131 — ₹6.20 up from its Thursday close of ₹124.80 per equity share.
Exxaro share price target
Unveiling the investment strategy in regard to Exxaro Tiles shares; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "Exxaro shares are looking positive on chart and it may go up to ₹150 in short term. I would advise shareholders of the counter to hold with trailing stop loss at ₹125. Those who don't have this stock in their portfolio can add this counter at CMP maintaining strict stop loss at ₹125."
Shares of Exxaro Tiles were listed on NSE and BSE on 16th August 2021. It was listed at ₹6 premium at Indian bourses.
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