The National Stock Exchange (NSE) Nifty50 index which closed near 11,691.50 at the previous trading session is now opened on a positive note near 11,744.45. Currently, it is trading near 11,704.35, 12.85 points up. (12:46 PM India GMT +5:30)
The index lost most of the morning gains in afternoon trading session where many stocks hit their fresh 52-week lows on NSE including the shares of Jain Irrigation Systems Limited which come to Rs. 19.45 from a previous 52-week low of Rs. 21.60. It is the fourth consecutive day when the shares of Jain Irrigation are losing. It is due to come under pressure on reports of defaults followed by rating downgrades.
Last week the company clarified on its debt obligations and stated that it is confident of executing its plan to bring down the debt by Rs. 2,000 crores.