The company had availed various credit facilities from the bank which turned into a non-performing asset in 2013, and the account was declared fraud in 2020 after a forensic audit by the KPMG.
During the inspection of the shareholding of S Kumars, SEBI observed that the nine entities had "failed to make disclosures regarding creation/ invocation/ release of certain pledge transactions and off market sale/ purchase of shares" of the company.
Trading would be suspended by the Bombay Stock Exchange (BSE) in shares of as many as 13 companies, while National Stock Exchange (NSE) has announced similar action against three companies, two of which are also part of the BSE list.
TCS | Tata Steel | M&M | JSPL | Hindalco | MMTC | Bharti Airtel | Hitachi | MRF | S Kumars Nationwide | Eros International | Jindal Saw | JSW Steel | Mindtree | SpiceJet and Pidilite Industries are stocks, which are in the news today.
Infosys | DLF | Hindalco Industries | Bharti Airtel | Future Retail | Ashoka Buildcon | Apollo Hospitals | Kotak Mahindra Bank | ING Vysya Bank | Sesa Sterlite | Hathway Cable | Jet Airways | Eicher Motors | Mahindra & Mahindra | United Spirits | Kalpataru Power | Jindal Steel | Idea Cellular and Yes Bank are stocks, which are in the news today.
Kunal Saraogi of Equityrush recommends staying away from Aban Offshore.
IOC| Reliance Industries | Godrej Consumer | Mahindra and Mahindra | Tata Motors | Tech Mahindra | India Infoline | Vascon Engineers | Infotech Enterprises | MERCK | Dishman Pharma | Hotel Leela Venture | Financial Technologies and Shree Ganesh Jewellery are stocks, which are in news today.
Industrial Development Bank Of India sold 17,36,534 shares of S Kumars Nationwide.
Videocon Industries | Man Industries | Rasoya Proteins | Gitanjali Gems | ABG Shipyard | SpiceJet | CORE Education | REI Agro | IVRCL | Punj Lloyd | CRISIL | Opto Circuits | Educomp Solutions | Unitech | DEN Networks | Britannia | MMTC | REC | DLF | Jet Airways | SBI | Infosys | PNB and Supreme Infra are stocks, which are in the news today.
JPMSL, which was holding 8.08 percent as of September 2013, sold 17,84,601 equity shares at Rs 5 apiece.
On Tuesday S Kumars Nationwide closed at Rs 5.83, down Rs 0.29, or 4.74 percent.
On October 25, 2013 J P Morgan Sec Ltd A/C Copthall Mauritius Invest Ltd sold 20,00,000 shares of S Kumars Nationwide at Rs 5.25.
S Kumars Nationwide closed at Rs 4.77, up Rs 0.22, or 4.84 percent on Wednesday.
On October 22, 2013 J P Morgan Sec Ltd A/C Copthall Mauritius Invest Ltd sold 20,35,000 shares of S Kumars Nationwide at Rs 4.55.
Financial Technologies | Jet Airways | Pioneer Distilleries | GMR Infrastructure | GVK Power | Gulf Oil Corporation | Bayer Cropscience | APL Apollo Tubes | Zenith Infotech | Apollo Tyres | Infosys | S Kumars Nationwide and IOC are stocks, which are in the news today.
S Kumars Nationwide | Wipro | Raymond | Indian Hotels | Omaxe | Gillette | Coal India | MCX India | SKS Microfinance and IL&FS Transportation are stocks, which are in the news today.
Uco Bank has slapped a loan recall notice on Reid & Taylor after it failed to repay over Rs 100 crore loan. IOB has classified both Reid & Taylor and S Kumars accounts as NPAs.
On June 06, 2013 India Debt Management Pvt Ltd sold 20,95,882 shares of S Kumars Nationwide at Rs 5.03 on the NSE. In the previous trading session, the share closed at Rs 5.08.
On May 29, 2013 Industrial Development Bank Of India sold 30,00,000 shares of S Kumars Nationwide at Rs 4.13 on the NSE.
On May 28, 2013 Industrial Development Bank Of India sold 20,00,000 shares of S Kumars Nationwide at Rs 4.52 on the NSE.
On May 20, 2013 India Debt Management Pvt Ltd sold 22,75,000 shares of S Kumars Nationwide at Rs 5.04 on the NSE. In the previous trading session, the share closed at Rs 4.98, down Rs 0.71, or 12.48 percent.
On April 30, IL&FS Financial Services sold 18 lakh equity shares of S Kumars Nationwide at Rs 7 on the NSE.
In CNBC-TV18's popular show Bull's Eye, Prakash Diwan of Prakash Diwan's Wealth Circle shares trading strategy of the day.
S Kumars Nationwide shares surged over 5 percent on Monday morning on reports that the textile maker was planning to sell a controlling stake in its subsidiary Reid and Taylor to deleverage its balance sheet.
Nestle India | HUL | NALCO | Cairn India | IOC | SAIL | Kingfisher Airlines | Ranbaxy Laboratories | Videocon Industries | S Kumars Nationwide | UTV Software Communications | Suzlon Energy | Dr Reddys Laboratories | Deccan Chronicle Holdings and Chettinad Cement are the stocks | which are in news today.