Videocon Industries Locked In Lower Circuit For 14th Straight Session

Videocon Industries, an India-based diversified company, hit lower circuit of 5% or Rs 30.30 per share for the 14th consecutive straight session during the trading session on Thursday. The stock has declined mainly due to the selling pressure after two lenders declared the company's account as non-performing assets (NPA).
The lender with the highest exposures to Videocon, Central Bank of India declared the company as an NPA. Dena Bank also has classified the company’s loan amounting to Rs 520 crore as non-performing assets (NPA), PNB also followed the suit.The company has Rs 40,000 crore debt on its balance sheet.Videocon Industries operates in four segments consumer electronics and home appliances, crude oil and natural gas, telecommunications and power.

Videocon Industries Ltd is currently trading at Rs 30.05, down by Rs 1.55 or 4.91% from its previous closing of Rs 31.6 on the BSE.The scrip opened at Rs 30.05 and has touched a high and low of Rs 30.05 and Rs 30.05 respectively. So far 70917(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1056.89 crore.

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