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JP Associates, Videocon recover from Monday's fall; Nagarjuna Oil dips 10%

Meanwhile, Jai Balaji, Orchid Pharma, Unity Infra and Nagarjuna Oil, extended losses

SI Reporter  |  New Delhi 

Top stocks sold and bought by fund managers in August

Shares of JP Associates, Uttam Galva, and recovered on Wednesday after falling up to 10% on Tuesday after reports suggest that these companies were among the 40 names that appeared on RBI's second list of loan defaulters. CLICK HERE FOR THE REPORT

These companies may also be sent to if debt issue is not resolved by mid-December and the list is likely to be released in September, the report says.

JP Associates, which slipped nearly 10% post the development, gained over 7%in Wednesday's trade to Rs 22.95, while SEL Manifacturing and were up over 3%each in the early morning deals. Industries also recovered 2%. By comparision, the BSE Sensex was up 0.7%.

Meanwhile, shares of Jai Balaji, Orchid Pharma, and Nagarjuna Oil, extended losses and slipped up to 10% on Wednesday. tumbled over 10% while Jai Balaji, and were down in the range of 4-7%.

In another development, the Reserve Bank of India (RBI), sources say, has instructed banks to maintain the December deadline for completing the bankruptcy proceedings on their largest non-performing assets (NPAs), in addition to the 12 named in June and the ones in various stages of similar operations. READ MORE HERE

First Published: Wed, August 30 2017. 09:48 IST