India's Reliance Naval falls after IDBI Bank moves NCLT to recover loan

Swan Defence and Heavy Industries

07/09/2018 07:20

** Anil Ambani-led Reliance Naval and Engineering Ltd  
 RELV.NS  falls as much as 4.95 pct to 15.35 rupees, lowest
since Aug 29
    ** IDBI Bank Ltd  IDBI.NS  filed https://bit.ly/2oIMqUm
application before National Company Law Tribunal (NCLT) seeking
debt resolution
    ** IFCI Ltd had also filed similar application in November
2017, whose admission is still pending
    ** Reliance Naval's stock among top pct losers on Nifty 500
index  .NIFTY500 
    ** Stock had shed 67.24 pct this year as of last close,
compared with Nifty 500 index's 3.4 pct gain

 (Reporting by Arnab Paul in Bengaluru)
 ((arnab.paul@thomsonreuters.com@reuters.net))