NBHC says its exposure in NSEL is less than 3%
Moneylife Digital Team 26 August 2013

National Bulk Handling Corp said its exposure in NSEL is less than 3% of its total warehousing stock

National Bulk Handling Corp Ltd (NBHC) on Monday said that the company and National Spot Exchange Ltd (NSEL) are totally different entities and it does not handle NSEL warehouses except for stocks at five warehouses which recently (June/July 2013) have been taken over.

 

In a release, NBHC said, the stock belonging to NSEL comprises less than 3% of the total stock handled by the warehousing and commodity management company.

 

As of 19 August 2013, the stocks in warehouses managed by NBHC across locations in 19 states is worth about Rs6,500 crore. As of July end, NBHC had over 1,500 storage or warehouses and commodity management facilities under its management through various commercial formats, the release said.

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