Shares of debt-laden companies on Thursday fell, dragging banks on fears of their possible exposure to these companies. Shares of Sintex Industries fell 10%, Sintex Plasitcs Technology slumped 10%, Reliance Power tanked 6%, and Reliance Capital declined 5%. Khadim India, Manpasand Beverage, Eros Media, Radico Khaitan Ltd, Reliance Capital fell 5% each, while Reliance Infrastructure declined 3%. Punjab National Bank declined 5%, Union Bank of India fell 3.3%, Oriental Bank of Commerce lost 3.2%, Central Bank of India eased 3%, Bank of India fell 2.7%, Indian Bank was down 2.5%, and Canara Bank declined 2.3%. Among private sector banks, Yes Bank slumped 9%, Indusind Bank fell 5.4%, IDFC Bank declined 2%, and DCB Bank and RBL Bank fell 1.7% each.

Source: Mint June 13, 2019 05:36 UTC