Shares prices of nine companies out of the 12 NPA accounts identified by RBI have moved erratically in the past three weeks. Some of these scrips have lost great amounts of market price, which was expected with the central bank directing lenders to start liquidating assets of these big time defaulters, while others have gained despite bankruptcy looming over them.
The twelve accounts reportedly are ABG Shipyard, Alok Industries, Amtek Auto, Bhushan Power, Bhushan Steel, Electrosteel Steels, Era Infra, Essar Steel, Jaypee Infratech, Jyoti Structures, Lanco Infratech, Monnet Ispat. Out of these twelve companies, shares of Bhushan Power and Essar Steel are not listed while trading in Era Infra has been suspended since 12 September 2016.
This is how these nine stocks have fared since 1 June 2017:
Shares of ABG Shipyard have slipped 10.45% from Rs 12.73 to Rs 11.40 since the beginning of this month. However, today the scrip was trading up 1.98% at Rs 11.34 on the BSE and up 3.17% at Rs 11.40 on the NSE.
Shares of Alok Industries have tanked 21.36% from Rs 3.23 to Rs 2.54 since 1 June 2017. However, today company’s stock was trading up 1.60% at Rs 2.54 on the BSE and up 2.00% at Rs 2.54 on the NSE.
The company’s stock has eroded 19.34% from Rs 34.90 to Rs 28.15 in the past three weeks. However, today the stock was up 9.6% on both the exchanges at Rs 28.15.
Bhushan Steel’s stocks have lost 11.11% from Rs 81.45 to Rs 72.40 since 1 June. However, today the stock was trading up 12.39% at Rs 72.10 on the BSE and up 12.86% at Rs 72.40 on the NSE.
Shares of Electrosteel Steels have slipped 4.81% from Rs 4.57 to Rs 4.35 in the last three weeks. However, today the scrip was up 5.58% on the BSE and up 6.10% on the NSE and was trading at Rs 4.35.
Jaypee Infratech’s stock has eroded 3.74% from Rs 11.74 to Rs 11.30 since the beginning of the month. However, today the scrip was up 0.18% at Rs 11.25 on the BSE and up 0.44% at Rs 11.30 on the NSE.
Amazingly, shares of Jyoti Structures have gained 28.19% from Rs 8.62 to Rs 11.05 in the last three weeks. However, today the stock was down 3.41% at Rs 11.05 on the BSE and down 4.78% at Rs 10.95 von the NSE.
Lanco Infratech’s stock has nosedived 44.57% from Rs 2.76 to Rs 1.53 since 1 June. Including today, the stock has been caught in a lower circuit limit for the last three consecutive trading sessions, after RBI directed the company’s lead banker IDBI Bank to initiate liquidating the beleaguered firm’s assets. Lanco Infratech is the first company out of the twelve companies mention earlier which will face liquidation.
Today trading in the shares of the company was halted after the stock dipped 10.00% to Rs 1.53 on the BSE and 8.57% to Rs 1.60 on the NSE.
Shares of Monnet Ispat have gained 11.92% from Rs 36.90 to Rs 41.30 in the last three weeks. Today, the stock was up 15.48% at Rs 40.65 on the BSE and up 16.67% at Rs 41.30 on the NSE.