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Tuesday, 23 May 2017

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. 

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