Spencer Retail shares rallied 7% after it announces plans to reduce debt
The stock of the retail company rallied after the company said, in an exchange filing, that its subsidiary Nature's Basket is anticipated to decrease its debt by approximately ₹100 crore through a combination of loan restructuring and loan repayment in the coming period.
Shares of Spencer Retail were up by 7.18% to ₹79.10 apiece on Tuesday’s trading session. Spencer stock opened at ₹74.60 on November 28, against previous close at ₹73.80 per share. At 10:30 am, the stock for Spencer's Retail was trading at ₹77.40.
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