The bank has been planning to sell Visa steel since March when it had sought ₹160 crore or 40% recovery on its loan. Union Bank had followed SBI which had received ₹243 crore on its ₹697 crore loans, a recovery of 35% from Acre ARC.

Union Bank calls bids for its Visa Steel loan

Visa Steel Consolidated March 2023 Net Sales at Rs 107.28 crore, down 65.44% Y-o-Y

ACRE, an ARC, has given a revised offer of ₹243 crore as against its previous offer of ₹230 crore, the people said. ACRE was the sole bidder at an auction held by SBI on February 10 for ₹697.2 crore Visa Steel loans, as reported by ET on February 24. The binding offer by ACRE at that auction would h…

ACRE raises binding offer for debt of Visa Steel

Union Bank had put on sale a ₹410-crore loan of bankrupt Visa Steel and set the reserve price at ₹164.28 crore, entailing a recovery of at least 40%. For the ₹212-crore debt to Hotel Horizon, the reserve price was set at ₹165 crore, seeking at least 77% recovery.

Union Bank of India fails to get bidders for its bad loans

Union Bank of India is following an open bidding process where bidders are invited at above the reserve price, they said. Interested bidders including asset reconstruction companies have until March 8 to submit expression of interest, people cited above said.

Union Bank puts ₹410-cr Visa Steel Loan on sale

The offer from ACRE, an asset reconstruction company, is at the reserve price set by the bank and equates to a recovery of 33 paise on outstanding loans for the country’s largest state-run lender by assets, the people said.

ACRE offers State Bank of India Rs 230 crore for Visa Steel loans

Visa Steel reports consolidated net profit of Rs 1727.42 crore in the December 2022 quarter

SBI’s offer to sell this account comes even as the Orissa High Court, for the second time, stayed initiation of the insolvency process against Visa after the Cuttack bench of the National Company Law Tribunal (NCLT) had admitted the borrower for commencement of bankruptcy proceedings, acting on a pl…

SBI to sell its Rs 700-cr Visa Steel loan account

Visa Steel Consolidated September 2022 Net Sales at Rs 193.08 crore, down 24.66% Y-o-Y

Visa Steel Standalone March 2022 Net Sales at Rs 229.65 crore, up 27.29% Y-o-Y

Videocon Industries affiliate VOVL Ltd, real estate company Jaypee Infratech, telecom infrastructure provider GTL Ltd, Visa Steel and Meenakshi Energy are among the 15 companies with aggregate loans amounting to ₹50,335 crore that commercial banks plan to sell to the newly-formed bad bank, National …

Loans of Jaypee Infra, VOVL and GTL among 15 that may be sold to bad bank

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

VISA Steel Limited is engaged in the manufacturing of basic metals. It's segments include Special Steel which includes bar and wire rods , billets and blooms , pig iron and sponge iron, and Ferro Chrome, which includes ferro chrome and captive power.

Visa Steel Ltd