Nalwa Steel and Power and BTL EPC’s resolution plans received an equal number of votes from creditors in the case of McNally Bharat Engineering, causing a rare tie situation in the bankruptcy proceedings. The winning bid was declared as BTL EPC, which offered INR 445.2 crore, compared to Nalwa’s INR…

Nalwa Steel, BTL EPC bids tied for McNally

Last month, lenders decided to hold a second-round challenge auction to maximise recovery since the offers in the first round were very low, said people cited above. In the first round, lenders had received the highest offer of Rs 319 crore, which was much below their expectations, one lender said. …

Naveen Jindal’s Nalwa top bidder for McNally Bharat

The three are among 17 entities to have shown interest in the Khaitan-owned Williamson Magor group firm, which is said to owe over Rs 3,700 cr various creditors

Nalwa Steel & Power, two others submit resolution plans for McNally Bharat

McNally Bharat, an engineering, procurement and construction (EPC) company promoted by the Khaitan family of Williamson Magor Group, was admitted for corporate insolvency in May this year based on a petition filed by Bank of India. Resolution professional Anuj Jain, backed by BSRR Affiliates, receiv…

Megha Engg, Nalwa Steel, 15 others keen on McNally Bharat

Firm was admitted under CIRP by the NCLT Kolkata bench in April based on a petition filed by one of its financial creditors

NCLT Kolkata Bench accepts CoC application to appoint resolution professional for McNally Bharat

Among the five accounts proposed last week, Kishore Biyani-promoted Future Retail, McNally Bharat Engineering and CCCL are undergoing insolvency proceedings.

India’s bad bank NARCL proposes to buy 5 distressed loan accounts

McNally Bharat Engineering Company reports consolidated net loss of Rs 1045.40 crore in the June 2022 quarter

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Stocks that will see action July 21, 2022

The last date for submission of an EOI is July 31

Resolution professional for McNally Bharat Engineering Company issues invitation for EoI

Williamson Magor Group, which owns the firm, confirmed the development but indicated that options for resolution were still being looked at

NCLT admits petition for CIRP against EPC firm McNally Bharat Engineering

EPC firm pursuing oversees JVs to ‘aggressively execute projects’

McNally Bharat expects debt revamp plan to be cleared in 2nd half of fiscal

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Profitability and efficiency haven't been upto the mark

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

McNally Bharat Engineering Company Limited (MBE) is engaged in the construction and maintenance of power plants and industrial facilities. The Company is involved in turnkey projects in infrastructure and related manufacturing activities.