State Bank of India Chairman Arundhati Bhattacharya said the bank has an exposure of Rs. 6000 crore to the steel-maker which is standard assets at present. The company is embroiled in a controrvercy following the arrest of Syndicate Bank chairman and managing director SK Jain last week for allegedly receiving a bribe of Rs.50 lakh to enhance the credit limits for the company.
Bhattacharya said the Bhushan Steel plant in Odisha is running well the lenders do not want to expose their assets to any difficulties as a result of the imbroglio.
Bhushan stock price:
On August 08, 2014 Bhushan Steel closed at Rs 219.35, down 24.35, or 9.99 percent. The 52 week high of the share was Rs.504.00 and 52 week low was Rs. 219.35.
The company trailing 12-month (TTM) EPS was at Rs 2.74 per share as per the quarter ended March 2014. The stock's price-to-earning (P/E) ratio was 80.05 The latest book value of the company is Rs. 395.02 per share. At current value, the price-to-book value of the company is 0.56.
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