Debt-ridden stocks in red

RBI yesterday stated that it has identified 12 accounts which would b eligible for immediate referencing for bankruptcy proceedings. These 12 represented 12% of the gross bad loans in the banking sector.

RBI has not yet revealed the names but companies which could figure out in this list are the usual suspects – Alok Industries, Bhushan Steel, Essar Steel, Lanco Infra; all these stocks are deep in the red since morning.  So are IVRCL, Aban Offshore, Moser Baer, GVK Power.

RBI, a couple of days ago had already announced names of 50 biggest defaulters and these 12 will most likely come from this list only. The companies name in the top 50 were Bhushan Steel, Bhushan Power, Lanco, Videocon Industries, Jaypee group, Essar Steel, ABG Shipyard, Punj Lloyd, Electrosteel Steels, Aban Holdings, Monnet Ispat, Prayagraj Power and Era Group.

All these are the companies in the red today