May 14, 2018 / 7:15 AM / 14 days ago

BUZZ-India's Reliance Naval hits record low on bad loans tag

** Shipbuilding and fabrication firm Reliance Naval and Engineering Ltd falls as much as 16.4 pct to 14 rupees, a record low

** State-owned lender Vijaya Bank has classified Reliance Naval’s account as a non-performing asset from the March quarter, local daily Business Standard reports, citing news agency PTI

** Vijaya Bank officials confirm the account has been declared as NPA, while Reliance Naval did not immediately respond to Reuters’ request for comment

** Over 14.7 mln shares change hands, compared with their 30-day avg of 9.2 mln shares

** Reliance Naval stock has lost over 66 pct this year as of Friday’s close

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