Videocon Gets Locked At Lower Circuit Again Hits 10%

With investors selling the shares of Videocon Industries on negative news flows, the stock on Thursday has hit its lower circuit for the fourth consecutive trading session.

The stock hit a 10% lower circuit on the NSE in opening hours as the Central Bank of India declared the company's NPA (non-performing asset) in the first quarter of FY18.

Central Bank of India has one of the highest exposures to the consumer durables and oil company at Rs 2,700 crore. Other banks are likely to soon follow suit in declaring the account as a bad loan or an NPA, reported a leading news agency. The stock is locked in its lower circuit of Rs 52.55 per share and is down at Rs 5.80 on the NSE.

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