{"id":7935,"date":"2022-03-22T17:25:50","date_gmt":"2022-03-22T11:55:50","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=7935"},"modified":"2022-03-22T17:25:50","modified_gmt":"2022-03-22T11:55:50","slug":"sintex-bse-and-nse-suspend-trading-in-the-stock","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/sintex-bse-and-nse-suspend-trading-in-the-stock\/","title":{"rendered":"Sintex: BSE and NSE Suspend Trading in the Stock"},"content":{"rendered":"\n<p>On Monday, textile-manufacturer Sintex closed at Rs 7.82, down 4.98% against the previous day\u2019s closing of Rs 8.23 on BSE. The major stock exchanges <a href=\"https:\/\/www.tickertape.in\/stocks\/bse-BSEL?checklist=basic&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">BSE<\/a> and <a href=\"https:\/\/www.tickertape.in\/blog\/national-stock-exchange\/\">NSE<\/a> have suspended trading in the debt-ridden Sintex from today, 22 March 2022.<\/p>\n\n\n\n<p>The textile manufacturer\u2019s lenders have approved the joint bid of ACRE and <a href=\"https:\/\/www.tickertape.in\/stocks\/reliance-industries-RELI?&amp;utm_source=blog&amp;utm_medium=article\" target=\"_blank\" rel=\"noreferrer noopener\">RIL<\/a> to acquire Sintex Industries under the insolvency resolution process. Additionally, the resolution plan also proposes to <a href=\"https:\/\/blog.tickertape.in\/delisting-meaning-types-and-your-options\/?utm_source=blog&amp;utm_medium=article\" rel=\"nofollow noopener\" target=\"_blank\">delist<\/a> the company.<\/p>\n\n\n\n<p>Sintex announced that \u201cAs per Resolution Plan of Reliance Industries Limited (RIL) jointly with Assets Care &amp; Reconstruction Enterprise Limited (ACRE) it is proposed that existing <a href=\"https:\/\/www.tickertape.in\/blog\/share-capital\/?utm_source=blog&amp;utm_medium=article\">share capital<\/a> of the company shall be reduced to Zero and the company will be <a href=\"https:\/\/www.tickertape.in\/blog\/delisting-meaning-types-and-your-options\/\">delisted<\/a> from the stock exchanges, i.e. BSE and NSE.\u201d<\/p>\n\n\n\n<p>Insolvency proceeding against the textile manufacturer was initiated in April 2021. About Rs 7,500 cr.-worth claims have been admitted against the company.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Caution investors<\/strong><\/h2>\n\n\n\n<p>Despite the likeliness of losing their entire capital as per the resolution plan, some investors continue to buy stocks of Sintex Industries. Investors should beware that stock trading at its <a href=\"https:\/\/www.tickertape.in\/blog\/using-tickertape-screener-to-discover-stocks-near-52-week-low\/?utm_source=blog&amp;utm_medium=article\">52-week<\/a> or all-time lows should not be the sole reason to buy it. Doing a <a href=\"https:\/\/blog.tickertape.in\/what-are-the-tools-of-fundamental-analysis\/?utm_source=blog&amp;utm_medium=article&amp;utm_campaign= https:\/\/www.tickertape.in\/blog\/using-tickertape-screener-to-discover-stocks-near-52-week-low\/?utm_source=blog&amp;utm_medium=article\">fundamental analysis<\/a> of a company before buying into it reveals such adverse pointers that indicate the feasibility of investing in stocks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major stock exchanges BSE and NSE suspended trading stocks of Sintex, a debt-ridden textile-manufacturing firm. The stock closed at Rs 7.82, down 4.98%, against the last day\u2019s closing of Rs 8.23 on BSE.<\/p>\n","protected":false},"author":27,"featured_media":7936,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[10,1744],"tags":[547,1551],"acf":[],"modified_by":"Aradhana Gotur","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2022\/03\/7-1.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/7935"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=7935"}],"version-history":[{"count":4,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/7935\/revisions"}],"predecessor-version":[{"id":7940,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/7935\/revisions\/7940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/7936"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=7935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=7935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=7935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}