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
The broader market indices have been underperforming in the market on Tuesday. Bajaj finserv is pulling down the BSE Mid-cap index. The stock is trading lower by close to 4% at Rs 3820 per share. The company has recently posted the financial results for the quarter ended March 31, 2017. The company’s consolidated gross revenue grew by 16% on a YoY basis for Q4 FY17. Federal Bank Limited is the top contributor to the BSE Small-cap index. The stock is trading lower by around 2.5% at Rs 107.85 per share. There were 165 advances, 1421 declines and 363 unchanged stocks on NSE reflecting strong negative undertone in the market. At 11 AM, the S&P BSE Sensex is trading at 30428 down 142 points, while NSE Nifty is trading at 9397 down 41 points. A total of 13 stocks registered a fresh 52-week high in trade today, while 77 stocks touched a new 52-week low on the NSE. The BSE Mid-cap Index is trading down 1.7% at 14221, while BSE Small-cap Index is trading down 2.08% at 14741. Some buying activity is seen in Information Technology and Auto while Oil & Gas, Energy, Finance, Telecom are showing weakness on BSE. Maruti, Eicher Motors, Wipro, ICICI Bank and Hindustan Unilever are among the gainers, whereas Sun Pharma, Aurobindo Pharma, Cipla, GAIL, Lupin are losing sheen on NSE in the first trading hour.
Only Nifty IT index is trading in green among the sectoral indices on NSE. The IT giant, Tata Consultancy Services is trading higher marginally by Rs 10.3 per share at Rs 2541.65 per share. HCL Tech is the top gainer in the index trading higher by 0.7% at Rs 863.75 per share. There were 151 advances, 1390 declines and 405 unchanged stocks on NSE reflecting strong negative undertone in the market. At 10 AM, the S&P BSE Sensex is trading at 30426 down 144 points, while NSE Nifty is trading at 9387.2 down 51 points. A total of 13 stocks registered a fresh 52-week high in trade today, while 70 stocks touched a new 52-week low on the NSE. The BSE Mid-cap Index is trading down 2.5% at 14105, while BSE Small-cap Index is trading down 2.95% at 14609. Some buying activity is seen in Information Technology while Oil & Gas, Energy, Finance, Telecom are showing weakness on BSE. Maruti, HDFC, Hindustan Unilever, HCL Tech and Wipro are among the gainers, whereas GAIL, Sun Pharma, Aurobindo Pharma, Adani Ports and Cipla are losing sheen on NSE in the first trading hour. The INDIA VIX is higher by close to 8% at 12.08.
