Nava Ltd's subsidiary gets 1st payment of $10 mn as per arbitration proceedings

Pursuant to the outcome of Arbitration proceedings between MCL and ZESCO, NAVA Ltd has reported that ZESCO has effected the first payment of US$ 10 Million to MCL as per the agreed payment plan in the Award.

This payment reflects ZESCO's commitment to the terms of Award. MCL expects ZESCO to make the balance payments as per the Award to clear the complete arrears by end of August 2023.

Shares of Nava Limited was last trading in BSE at Rs. 212.95 as compared to the previous close of Rs. 221.95. The total number of shares traded during the day was 97956 in over 3038 trades.

The stock hit an intraday high of Rs. 231.20 and intraday low of 211.05. The net turnover during the day was Rs. 21879793.00.

Source : Equity Bulls

Keywords

Nava INE725A01022 MCL ArbitrationAward 1stPayment ZESCO