News for Future Lifestyle Fashions Limited (FLFL.BO)

The Nifty Realty index was trading 1.43 per cent up at 866.65.

The Nifty Bank index was trading 0.76 per cent up at 50445.25.

The Nifty Pharma index was trading 1.02 per cent up at 21557.35.

Welspun Corp, Kaveri Seed Co., AstraZeneca, Aavas Financiers and Avanti Feeds, hit their fresh 52-week highs during the day.

The Nifty Bank index closed 0.72 per cent up at 50062.85.

The Nifty IT index closed 1.25 per cent up at 36676.65.

IndusInd Bank, Bajaj Finance, Trent, Shriram Finance and UltraTech Cem. were among the top losers on NSE in today's trade.

The Nifty Auto index closed 1.42 per cent up at 21623.05.

The Nifty Realty index closed 1.07 per cent up at 854.4.

The Nifty Pharma index closed 0.92 per cent up at 21340.6.

Stocks that will seee action today: Buzzing Stocks: BSE, Zomato, Reliance Industries, RInfra, Adani Enterprises, Adani Energy, PNB, Apollo Hospitals, Angel One, Future Lifestyle, Lupin, Biocon, Zydus Lifesciences, Dr Reddy’s Lab, BEL, ICICI Prudential, REC, SW Solar, Welspun Enterprises, KRBL, Kohinoor Foods, Chaman Lal Setia, Pidilite, NHPC, Mahanagar Gas

Broader markets also came under pressure as BSE mid-cap and small-cap indices turned into the red.

As many as 10 stocks hit their 52-week lows today. BSE stocks such as AF Enterprises, AKI India, Best Eastern Hotels, Bheema Cements and Future Lifestyle Fashions hit their respective one-year low levels. That said, 159 stocks touched their one-year high levels today.

Future Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently.

Future Lifestyle Fashions has been hit with a claim of INR2,155.5 crore ($289.4m) by 12 creditors following its default on loans. Furthering this, a committee of creditors has since been formed under the Insolvency and Bankruptcy Code, with its first meeting scheduled to take place on 6 June. FLFL, which operates retail chains including Central and Brand Factory in addition to several exclusive brand outlets, was considering asset monetisation to pay debts after entering into a one-time restructuring plan.

Future Lifestyle: As per the provision of the Insolvency & Bankruptcy Code, a Committee of Creditors (CoC) of FLFL has been formed and it will have its first meeting next week.

Future Supply Chain Solutions Ltd. in a regulatory filing said the Mumbai bench of NCLT has allowed the plea filed by DHL E-commerce (India), claiming default

The National Company Law Tribunal (NCLT) has on Friday admitted the insolvency plea filed against Future Supply Chain Solutions Ltd (FSCSL).

FSCSL was part of the 19 group companies operating in retail, wholesale, logistics and warehousing segments, which were supposed to be transferred to Reliance Retail as part of a Rs 24,713-crore deal announced in August 2020. The deal was called off by the billionaire Mukesh Ambani-led Reliance Industries Ltd in April. After that Future group companies had several defaults on payments.