De Nora India terminates purchase orders of BHEL contract

De Nora India Limited has terminated the Purchase Orders (POs), in view of Bharat Heavy Electricals Limited's (BHEL) failure to take delivery of certain goods for the Project 2X660 MW ENNORE SEZ STPP for supply of Electrolytic Chlorination Plant, despite lapse of over 2 years and also failure to accept company's proposal to issue a new PO, after taking into account the costs inflicted / incurred due to the delayed delivery to BHEL, which has affected Company's ability to fulfil the conditions of POs and as such amounts to a fundamental breach of the POs.

As the project is terminated midway, financial impact is yet to be ascertained.

Shares of De Nora India Limited was last trading in BSE at Rs. 490.60 as compared to the previous close of Rs. 505.00. The total number of shares traded during the day was 2680 in over 224 trades.

The stock hit an intraday high of Rs. 508.00 and intraday low of 484.15. The net turnover during the day was Rs. 1330617.00.

Source : Equity Bulls

Keywords

DeNoraIndia INE244A01016 OrderTermination PurchaseOrder BHEL