Live
- DEO suspends teacher accused of sexual assault
- PM ‘cursing’ Congress out of despair: Maharashtra Cong Chief
- Applications are invited for Junior Colleges Scheme District Scheduled Castes Development Officer Ramlal
- A nomination was filed on the second day for the Nagar Kurnool parliamentary seat
- SP Gaikwad inspected the Telangana Amarnath Saleswaram Jatara yatra arrangements
- Rahul Gandhi's decision to contest from Wayanad shows 'lack of confidence': BJP President Nadda
- IPL 2024: Delhi bowlers will go after all of SRH’s top-order batters, says head coach Ricky Ponting
- At Amroha rally, PM Modi sends out ‘meaningful’ message for Muslims and Hindus
- Tripura records highest 79.83 pc voter turnout in Northeast
- The government has to clear the confusion
Videocon shares crumble 53 per cent in a week
Shares of Videocon Industries continued to remain under pressure, plunging almost 53 per cent in five trading sessions amid reports of loan repayment worries.
New Delhi: Shares of Videocon Industries continued to remain under pressure, plunging almost 53 per cent in five trading sessions amid reports of loan repayment worries.
The five-day decline has eroded Rs 1,777 crore from the company's market valuation which stands at Rs 1,581.99 crore.
The company's scrip tanked 9.99 per cent to Rs 47.30 -- its lowest trading permissible limit for the day and also its its 52-week low -- on BSE.
On NSE, shares of the company dived 9.97 per cent to Rs 47.85 -- its lower circuit limit.
In a BSE filing on Tuesday, the company said: "We would like to submit that Dena Bank has recently announced that it had classified Videocon's loan amounting to Rs 520 crore as non performing assets. "This has resulted in some negative publicity of the company and, accordingly, impacted its stock price. We believe that the recent crash on the stock price of the company could be due to the said classification of Videocon's loan as NPA by Dena Bank."
Videocon said it was not aware of any other information which could explain the movement in the trading, it added.
