Mukesh Ambani-controlled Reliance Retail is already in the race to acquire the company. Earlier, Reliance Retail had sought time till October 30 to take a call on its bid for Future Enterprises.
Future Enterprises have received resolution plans from Jindal (India) Ltd, Reliance Retail Ventures and GBTL Ltd under the corporate insolvency process. The newly appointed resolution professional Avil Menezes disclosed the names of these three entities as a provisional list of prospective resolution applicants . The RP has admitted Rs 12,265 crore of verified claims from lenders and Rs 23 crore of claims from fixed deposit holders.
Mukesh Ambani s Reliance Retail Ventures makes offer to take over Future Enterprises along with Jindal (India), GBTL businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
These 5 stocks eroded at least half of their value in 2020
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Here’s a quick look at the top wealth destructors among of 2020, among the BSE 500 pack.
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GE Power India dropped 62 per cent in 2020, logging its worst yearly performance in a decade
MUMBAI: While the domestic equity market had a stellar run this year despite the Covid-19 pandemic, some stocks still eroded half or more value for the year-to-date.
Up nearly 14 per cent in 2020, equity benchmark Sensex is at a record high level. From its March lows, the index has recovered nearly 83 per cent.
However, five of the BSE 500 stocks eroded at least 50 per cent value since the start of 2020, and such erosion was largely due to reasons specific to the company or the group. In most cases, it was accompanied by falling institutional participation.