<h1>Nitco Limited fully recovers long-outstanding capital advance from Saumya Buildcon</h1>
Nitco Limited has successfully recovered the entire outstanding balance of a capital advance provided to Saumya Buildcon Private Limited (SBPL). The advance, which was issued in connection with the procurement of land, has now been fully recovered and settled by the company.
The capital advance had been provided by Nitco Limited to SBPL more than a decade ago. However, the proposed land transaction did not materialize, resulting in the advance remaining outstanding.
As part of its continuous efforts toward the recovery and regularization of long-outstanding advances, Nitco Limited has received the full outstanding balance amount of Rs. 995.98 Lakhs from SBPL.
With this recovery, the capital advance is now completely settled, and no amount remains outstanding from SBPL regarding the said advance.
NITCO Stock Price Movement
On Monday, Nitco Limited shares rallied to close at ₹96.28, after the equity climbed 3.25% during trading sessions. The stock traded within a range defined by a low of ₹93.1 and a high of ₹97.53, with 519,709 shares changing hands.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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