Bombay Burmah Trading shares surge 14% after SC recalls Rs 4,655 crore lease-rent observation
Bombay Burmah Trading shares rose sharply on Thursday after the Supreme Court recalled its earlier observation linking the company to a Rs 4,655 crore lease-rent liability. The court said the amount had neither been notified to BBTCL nor finally determined after giving the company an opportunity to respond, easing concerns over potential financial exposure.
Bombay Burmah Trading Corporation (BBTCL) shares jumped 14% on the National Stock Exchange (NSE) on Thursday after the Supreme Court overturned an earlier observation linking the company to a potential Rs 4,655 crore lease-rent liability. The stock opened at Rs 1,450 and rose to Rs 1,638.60 by 10:14 AM, a gain of Rs 202.40 or 14.19% from the previous close. The company had been facing uncertainty over the financial implications of the earlier court observation, but the development has offered relief to investors.
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