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New Delhi: Direct-to-home (DTH) television operator Dish TV India Ltd on Thursday reported a net loss of Rs13.9 crore for the June quarter, compared with a profit of Rs 36.1 crore in the year-ago period.
Banking sector in this week was all about interest rate movements with the country’s largest bank State Bank of India cutting deposit rates on savings accounts for the first time and with the Central Bank cutting key policy interest rates to lowest in over 6 years.
Lenders are drawing up a list of the next lot of companies from whom bankers can recover their dues using the insolvency route. CNBC-TV18 has learnt that Videocon Industries could be the next company to be referred to the National Company Law Tribunal (NCLT) for insolvency proceedings.
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A consortium of lenders led by State Bank of India has ordered a forensic audit of Videocon Industries' account to investigate whether the company stumbled because of tough business conditions or financial mismanagement.
Domestic consumer durable players are holding on to their prices despite a GST of 28 per cent unlike their MNC counterparts who have already hiked prices by two per cent.
As can be seen as a major turn around for the shares of the Videocon Industries, the stock has hit its upper circuit for the sixth trading session on Friday.
3:30 pm Market at Close: Equity benchmark indices ended the session on a flat note with a positive bias, with the Nifty ending above 9600-mark.
In two block deals, 55.9 lakh shares of Videocon Industries traded at Rs 19.70 per share and Rs 19.85 per share during the early hour of Thursday’s session.
9:53 am Buzzing: Motherson Sumi Systems share price gained nearly a percent in early trade after the shareholders have approved the issuance of bonus shares to existing shareholders through postal ballot on Tuesday.
10:02 am Listing: Tejas Networks has seen a tepid listing on Tuesday as the stock price opened at Rs 257.70 on the National Stock Exchange, up only 0.27 percent from its issue price of Rs 257.
The market fell sharply on last day of the week, with the Sensex down more than 150 points as investors preferred profit-booking ahead of the long weekend. They also maintained a cautious stance as the GST implementation date is approaching fast and ahead of Modi-Trump meet on Monday.
Videocon Industries, Hathway Cable & Datacom, Delta Corp and Power Finance Corporation are among the other losers in the BSEs A group today, 23 June 2017.
10.24 am Market Check: Equity benchmarks as well as broader markets held early gains, with the Sensex rising more than 100 points, supported by index heavyweights Reliance Industries, Infosys and HDFC Group stocks.
10:45 am Buzzing: Cadila Healthcare shares gained as much as 2.4 percent in morning trade on approval from the US health regulator for anti-migraine drug.
Videocon Industries, an India-based diversified company, hit its lower circuit of 5% or Rs 27.15 per share for the 16th consecutive straight session during the trading session on Monday.
Videocon Industries, an India-based diversified company, hit its lower circuit of 5% or Rs 28.55 per share for the 15th consecutive straight session during the trading session on Friday.
United Breweries, Housing Development & Infrastructure, Tech Mahindra and Max Financial Services are among the other losers in the BSEs A group today, 9 June 2017.
Videocon Industries, an India-based diversified company, hit lower circuit of 5% or Rs 30.30 per share for the 14th consecutive straight session during the trading session on Thursday.
Mumbai-based Bajaj Electricals is open to acquiring distressed companies and brands, including Kenstar, from the debt-ridden Videocon Industries. The domestic appliances major has been trying to buy brands like Polar, Sumeet and even Beko (which recently forged a joint venture with Voltas) in the past.
This week in the banking sector saw some new strategies and announcements related to bad loans and some capital-raising plans by banks to step up efforts to revive banks’ financial strength.
10:15 am Market Check: Benchmark indices extended their gains from the opening tick, with the Nifty firmly placed above 9500.