Bank loan defaults disclosed during insolvency resolution

Loan NpaCredit & Debt View source PDF Explain this filing

SITINET · price

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Price reactionminutes from the announcement price · days from the prior close

+0.0%Reaction day

₹0.47

prior close

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announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.3%+0.3% vs market

On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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30m

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Sessions after the filingfrom the prior close

StockMarketvs market

Reaction day

+0.0-0.3+0.3

Next day

+2.1-0.5+2.7

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15d

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-17.0-3.1-13.9

UpDownMarket · Nifty Microcap 250Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Siti Networks reported defaults on bank loans and revolving facilities. Creditor claims were INR 1,206.03 crore as of August 10, 2023 and INR 1,500 crore as of February 22, 2023. The insolvency process continues, the board's powers are suspended, and lenders must return appropriated funds with interest.

Likely market impact

Persistent defaults and ongoing insolvency proceedings raise default and recovery risks for shareholders and keep the stock outlook highly uncertain.