Stock Market — Stressed power generation companies fell after a court rejected their plea to ease RBI rules on bad loans, clearing the way for lenders to take these assets to bankruptcy courts and raising prospects of loan write-offs.
Allahabad High Court on Monday rejected power producers’ request for relaxation in RBI’s stricter rules on debt servicing, which power producers said could push nearly 75GW of projects into bankruptcy.
Generators with stressed assets including GMR Infrastructure, Monnet Ispat & Energy and GVK Power fell; Monnet lost as much as 4.8 percent, GMR declined 2.1 percent and GVK Power fell 4 percent. – Neal Bhai Reports
