Shares of Ceigall India Ltd surged nearly 3% on December 6, 2024, reaching ₹366.85, following a favorable arbitration award granted by the Arbitral Tribunal in its dispute with the Greater Mohali Area Development Authority (GMADA). The positive development is expected to significantly enhance the company’s financial position.
Arbitration Ruling in Ceigall India’s Favor
The Arbitral Tribunal, in its ruling, directed GMADA to pay a sum of ₹54.26 crore to Ceigall India Ltd. This amount includes compensation for the dispute between the two entities. Additionally, the tribunal has awarded a 12% simple interest on the awarded amount, which will accrue from the date of the award until realization.
This arbitration award stems from disputes over project-related matters between Ceigall India and GMADA, and the resolution marks a significant milestone for the company in its legal proceedings. The award was declared on December 5, 2024.
The tribunal’s decision is expected to have a positive financial impact on Ceigall India, as the awarded amount will bolster the company’s cash flows and improve its balance sheet.
Stock Performance Metrics
As of today:
- 1 Day Performance: Shares rose by 2.53%.
- 5 Days Performance: Up by 7.32%.
- 1 Month Performance: Up by 7.65%.
- 6 Months Performance: Down by 12.35%.
- Year-to-Date Performance: Down by 12.35%.
- 1 Year Performance: Down by 12.35%.
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