Mawana Sugars witnessed a rise in share price on Wednesday after the company announced that the board of directors of the company, vide resolution dated 21 March 2017, agreed to enter into one time settlement (OTS) with Punjab National Bank (PNB) Muzaffarnagar, Uttar Pradesh.

The purpose of the OTS was for resolution of non performing asset (NPA) debt. The company settled total memoranda dues of Rs 1.09 billion (as per PNB), for a consolidated agreed amount of Rs 797.9 million, payable over 15 months without interest.

Shares of Mawana Sugars are trading at Rs 90.35, up Rs 3.2, or 3.67% at the Bombay Stock Exchange (BSE) on Wednesday at 10:42 a.m.

The scrip has touched an intra-day high of Rs 91.15 and low of Rs 88.10. The total volume of shares traded at the BSE is 153,763.

Total volume of shares traded on the bourses today was lower by 49.98% to 574,170 compared with 22-day average volume of 1,147,887.