Videocon: Selling assets to repay debt

Videocon stock fell by another 10% on Wednesday, after falling 36% early this week

The Videocon stock fell by another 10 per cent on Wednesday, after falling 36 per cent early this week. The share price has been falling on rising concerns over debt repayment issues. Recently, Dena Bank had tagged the firm a non-performing asset, and there are news reports suggesting other banks are considering a similar move. The company is taking steps to cut its debt, worth Rs 22,000 crore, to Indian banks. It owes another Rs 22,000 crore to foreign banks, serviced by its foreign assets; there is no default on overseas loans. The group has sold several assets in the