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An update from CMI Limited ( (IN:CMICABLES) ) is now available.
CMI Limited has announced its unaudited financial results for the quarter ending June 30, 2024, amidst ongoing corporate insolvency resolution proceedings initiated by Canara Bank under the Insolvency and Bankruptcy Code, 2016. The company’s financial results reveal a loss of Rs. 351.66 lakhs for the quarter, reflecting ongoing financial challenges. The Board of Directors’ powers are currently suspended, and the Resolution Professional has authorized the financial disclosures. This situation highlights the company’s ongoing financial difficulties and the impact of insolvency proceedings on its operations and stakeholder interests.
More about CMI Limited
CMI Limited operates in the cable manufacturing industry, focusing on the production of various types of cables. The company is based in India, with facilities in Faridabad and Baddi, and it is known for its commitment to quality standards as evidenced by its ISO certifications.
Average Trading Volume: 4,739
Technical Sentiment Signal: Sell
Current Market Cap: 62.83M INR
Find detailed analytics on CMICABLES stock on TipRanks’ Stock Analysis page.