Videocon falls sharp on Thursday
DSIJ Intelligence / 25 May 2017
After the announcement made by Central Bank that it has labelled Videocon 's loans as NPA in first quarter of FY18, the stock hit lower circuit, down by 10 per cent.
On Thursday, stocks of Videocon hit lower circuit, with retail investors discarding the stocks of company based on flow of negative news.
After the announcement made by Central Bank that it has labelled Videocon 's loans as NPA in first quarter of FY18, the stock hit lower circuit, down by 10 per cent.
Central Bank of India with Rs 2,700 crore has the highest exposures to the consumer durable and oil company.
Central Bank expects that the company will sale their assets and give some amount as recovery by the time they have promised to the bank.
On Thursday, Videocon Industries Ltd. share traded at Rs 52.55, down by 5.80 point or 9.94 per cent on BSE at 14:26 hours.
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