Whalesbook
Mangalam Drugs and Organics shares fell more than 13% on November 20, extending a two-day loss to 23%. The company announced it has defaulted on two bank loans totaling Rs 7.65 crore to Bank of Maharashtra and Bank of Baroda. This downturn is attributed to the discontinuation of US Aid funding for treatments of diseases like HIV and Malaria, which has severely impacted its business and led to a drastic drop in orders. The company is seeking loan restructuring.