Videocon Industries stumbles after SBI-led consortium orders audit
DSIJ Intelligence / 04 Aug 2017
Videocon Industries lost some footing on the bourses on the back of a forensic audit ordered by SBI-led consortium of lenders, as reported by a leading business daily.
Videocon Industries lost some footing on the bourses on the back of a forensic audit ordered by SBI-led consortium of lenders, as reported by a leading business daily.
The consortium has ordered for a detailed forensic audit of Videocon Industries’ accounts to find out whether the company foundered because of adverse business conditions or financial mismanagement. This move is preliminary to initiate debt restructuring after Videocon defaulted on loans worth Rs 43,000 crore.
Meanwhile, the stock slipped 3.59% at 1038 hours at Rs 22.85 per share on the BSE. The stock on the NSE has attracted a traded volume of 5,35,588 shares and a traded value of Rs 124.42 lakhs.
Videocon Industries is engaged in the manufacture and wholesale and retail trade of consumer electronics and home appliances items. Its segments include consumer electronics and home appliances, crude oil and natural gas, telecommunications, power, etc.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.