DSIJ Mindshare

Reliance Industries Ltd (RIL) has joined hands with Turkey's textile behemoth, Kıvanç Tekstil, to manufacture and market R|Elan GreenGold, a sustainable and innovative fabric 2.0, for leading apparel brands and consumers across the world. 

As the Sensex fell by 793 points and Nifty settled below the 11,600 level, the stocks to watch out on July 9 include Voltas, BASF India, Eris Lifesciences, Reliance Industries, Mindtree and Punjab National Bank.

Although the account was already NPA in its books, the bank has so far only made provisions amounting to Rs.1932.47 crore, which is nearly half of the amount of the NPA.

The downward revision was triggered by the lower-than-expected cash accruals, leading to low coverage and return indicators and slower than expected deleveraging at the consolidated level, which has led to weakening of the company’s overall financial and liquidity profile.

In the afternoon, all the sectoral indices were trading in the negative territory while the Sensex was down 1.9 per cent and Nifty 50 was down 2.32 per cent. On the back of sustained selling by market-participants, the markets are continuing their negative momentum as the equity markets were trading at the day’s low points in the afternoon session.