Videocon Ind hits 13-year low; stock tanks over 40% in three trading days

The stock trading at Rs 58, lowest level since August 2004, tanked 42% from Rs 100 in three days.

Videocon Industries is locked in lower circuit for the third straight trading day, down 10% at Rs 58.35, its lowest level since August 2004 on BSE.

In past three trading sessions, the stock tanked 42% from Rs 100.45 on Friday, May 19, 2017, on back of heavy volumes. Till 10:46 am; a combined 75,892 shares changed hands and there were pending sell orders for 11.52 million shares on the BSE and NSE.

Dena Bank has recently announced that it had classified Videocon’s loan amounting of Rs 520 crore as non-performing assets (NPA).

“This has resulted into some