You are here: Home » Companies » News
Business Standard

Videocon shares plummet on loan repayment worries, tank 48% in 4 days

On NSE, shares of the company slumped 9.99% to Rs 53.15

Press Trust of India  |  New Delhi 


Investors continued to dump of on reports of repayment worries, sending the stock plunging 48 per cent in last four trading sessions.

The four-day decline has wiped out Rs 1,601.42 crore from the company's

of the company today tumbled 9.94 per cent to Rs 52.55 — its lowest trading permissible limit for the day and also its 52-week low.

On NSE, of the company slumped 9.99 per cent to Rs 53.15 — its lower circuit limit.

In a filing on Tuesday, the company said, "We would like to submit that has recently announced that it had classified Videocon's 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 as NPA by "

Videocon said it was not aware of any other information which could explain the movement in the trading, it added.

First Published: Thu, May 25 2017. 17:33 IST