Videocon Industries, the diversified Indian company during Tuesday’s trading session has breached its lower circuit of Rs 64.80 per share, extending its losses for the second consecutive trading session. The stock is down by 20% or Rs 16 .20 per share on the BSE at 1035 hours.
The stocks on Monday also breached its lower circuit of Rs 80.40 per share on the BSE. The stock is trading at near its March 2009 lows of 65.60.
Recently, with the default on payments, Dena Bank had declared Videocon Industries account as non-performing asset (NPA) in the fourth quarter ended March 2017.Dena Bank had become the first lender to classify Videocon Industries as a bad loan.
The company which was once a dominant player in television market, also ventured into oil and gas, special economic zones and telecom.
Stock view:
Videocon Industries Ltd is currently trading at Rs 64.8, down by Rs 16.2 or 20% from its previous closing of Rs 81 on the BSE.
The scrip opened at Rs 64.8 and has touched a high and low of Rs 64.8 and Rs 64.8 respectively. So far 247793(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2709.12 crore.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 114.9 on 06-Oct-2016 and a 52 week low of Rs 80.4 on 22-May-2017. Last one week high and low of the scrip stood at Rs 100.8 and Rs 80.4 respectively.
The promoters holding in the company stood at 66.04 % while Institutions and Non-Institutions held 11.54 % and 22.42 % respectively.
The stock is currently trading below its 200 DMA
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