March 9, 2018 / 4:36 AM / 2 months ago

BUZZ-India's GTL Infrastructure hits lower circuit on Aircel's insolvency worries

** Shares of GTL Infrastructure Ltd slump as much as 19.23 pct to 3.15 rupees

** Stock posts biggest intraday pct loss since April 2013

** Shares hit lower price band after falling to lowest since Sept 2016

** Impact of Aircel’s insolvency to be materially adverse for co, GTL Infrastructure said on Thursday

** Aircel contributed 43 pct of GTL Infra’s annual revenue up to March 2017, and as on March 8, 2018, Aircel has overdue outstandings of over 3.84 bln rupees ($59 million)

** Stock has fallen 44 pct this year up to Thursday ($1 = 65.0675 Indian rupees)

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