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Steel Exchange India Repays INR150 Million in Loans; Shares Jump 7%

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Steel Exchange India (NSE:STEELXIND) has repaid term loan facilities amounting to 150 million Indian rupees, reducing its outstanding debt by about 5.5%.

Earlier, the company redeemed 431.9 million rupees in non-convertible debentures and repaid 280 million rupees in loans, according to a stock exchange filing on Thursday.

The company's total debt reduction has now reached about 860 million rupees, representing roughly 25% of its long-term debt.

Shares of the company jumped over 7% in recent trade.

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