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Videocon Shares Hit Upper Circuit As NCLT Clears Sale To Vedanta Group

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After the National Company Law Tribunal (NCLT) approved Vedanta Group firm Twin Star's bid for Videocon Group, Videocon Industries' stock soared 5% at the open on June 9.

 

Videocon Industries Ltd., founded in 1986, is a Small Cap business in the Consumer Durables category with a market capitalization of Rs 212.38 crore.

The stock was up Rs 0.30, or 4.96 percent, at Rs 6.35 on NSE at 12.29 pm IST.. It has traded at a high of Rs 6.43 and a low of Rs 6.43 during the day.

Videocon Shares Hit Upper Circuit As NCLT Clears Sale To Vedanta Group
Videocon Industries: Quotes, News
BSE 7.08BSE Quote0.33 (4.66%)
NSE 6.95NSE Quote0.3 (4.32%)

As of November 12, 2018, financial creditors of Videocon Industries had filed claims of Rs 59,452 crore, of which Rs 57,444 crore had been admitted, according to records on the company's website.

Company Details
Company: Videocon Industries
Price: Rs 6.35
Market Cap: 212.38 Cr
1-Year Returns: 353.57%
52-W high: Rs 9

The stock earned -28.4 percent over three years, compared to 25.65 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned -28.4 percent, compared to S&P BSE Capital Goods, which returned 26.66 percent.

The Mumbai court of the insolvency tribunal has approved Vedanta Group arm's resolution plan to acquire bankrupt giant Videocon Industries, giving bankers a 95% haircut.

 

The Mumbai Bench of the National Company Law Tribunal (NCLT) has authorised billionaire Anil Agarwal's Twin Star Technologies' acquisition of bankrupt Videocon Industries, with the lenders expected to pay a 90% haircut. After failing to repay bank loans, Videocon Industries, which was saddled with a large debt of Rs 35,000 crore, was put to debt resolution in December 2017.

GoodReturns.in

Read more about: videocon industries
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