Reliance Defence shares rise 6% after lenders agree to convert debt into equity

The shares of Reliance Defence and Engineering rose by 6% soon after after the company said that lenders would convert Rs 650 crore of the loan in equity thereby easing debt burden of the company substantially. 

The shares of the company which open at Rs 65.20 was traded at Rs 68.60% when the announcement was made. Subsequently, it was traded at 67.90, up 4.8%.
According to the statement issued by the company at the stock exchange, the company has exited the corporate de ..

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