The stock has lost close to 47 per cent in the last four days. The textile firm’s market capitalisation has been reduced to Rs 5,466 crore from Rs 10,334 crore on August 19, a decline of Rs 4,868 crore.
While the immediate and overriding priority is to complete the clean-up of public sector banks’ balance sheets which is underway, simultaneously, process has to continue to bestow greater “governance autonomy” to these banks, Mundra said.
The Insolvency and Bankruptcy Code, 2016, seeks to consolidate and amend laws relating to reorganisation as well as insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner.
Low cost carrier Indigo continued to dominate carrying more than 33.84 lakh passengers for the month and increasing its market share by more than 5.01 percentage points in July as compared to the previous month.
Market participants remained pessimistic as the Reserve Bank of India is unlikely to cut interest rates in the immediate term, given the fact that inflation – both consumer and wholesale – shot up in July.