Bullish Moving Averages
15
Bearish Moving Averages
1
Back Stocks profile
Stock analysis tool for investors
Performance
Today’s low
72.00Today’s High
72.0052W low
45.8052W High
116.80Open Price
72.00Prev. Close
68.2800Volume
1.00Value
72.00Fundamentals
Market Cap
10.90
Price to Earnings
-5.50
Price to Book Value
1.30
Dividend Yield
0.00
PE to Growth
0.00
Op Revenue TTM
0.20
Net Profit TTM
-1.98
Cash From Operating Activity
0.03
Return on Equity %
-24.03
EMA & SMA
DELIVERY AND VOLUME
DAILY AVG. DELIVERY VOLUME %
05 Jul, 2024
100
Week
100
Month
LEGEND
Positive Indicator
Neutral Indicator
Negative Indicator
RESISTANCE AND SUPPORT
72.00
PIVOT
First Resistance
72.00
Second Resistance
72.00
Third Resistance
72.00
First Support
72.00
Second Support
72.00
Third Support
72.00
Relative Strength Index
55.5
Money Flow Index
62.11
MACD
1.18
MACD Signal
0.73
Average True Range
2.35
Average Directional Index
12.84
Rate of Change (21)
9.84
Rate of Change (125)
-25
Commodity Channel Index
76.3
Williams %R
-12
BETA
1 Month
-2.87
3 Month
-0.34
1 Year
0.44
3 Year
0.1
PRICE CHANGE ANALYSIS
↓ -1.77%
1 Week
Low
High
69.64
73.25
↑ 5.45%
1 Month
Low
High
68
73.39
↑ 4.96%
3 Months
Low
High
56.51
75.7
↑ 5.36%
6 Months
Low
High
56.51
75.7
↑ 17.76%
1 Year
Low
High
45.8
116.76
| Indicator | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 | Mar 2023 | Dec 2022 | Sep 2022 | Jun 2022 | Mar 2022 | Dec 2021 | Sep 2021 | Graph |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Qtr Revenue cr | 0.07 | 0.06 | 0.07 | 0.05 | 0.06 | 0.05 | 0.05 | 0.05 | 0.35 | 0.00 | 0.01 | |
| Operating Expenses Qtr | 0.07 | 0.23 | 0.11 | 0.14 | 0.09 | 0.11 | 0.11 | 0.13 | 0.09 | 0.10 | 0.10 | |
| Operating Profit Qtr | -0.01 | -0.17 | -0.04 | -0.14 | -0.09 | -0.07 | -0.06 | -0.08 | 0.26 | -0.10 | -0.10 | |
| EBIDT Qtr Cr | -0.01 | -0.17 | -0.04 | -0.09 | -0.04 | -0.07 | -0.06 | -0.08 | 0.26 | -0.10 | -0.10 | |
| Depreciation Qtr | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Profit Qtr | -2.29 | -0.17 | -0.04 | -0.09 | -0.10 | -0.07 | -0.06 | -0.08 | 0.24 | -0.10 | -0.10 | |
| Basic EPS Qtr | -15.12 | -1.10 | -0.27 | -0.58 | -0.63 | -0.43 | -0.37 | -0.53 | 1.56 | -0.65 | -0.64 |
| Indicator | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Graph |
|---|---|---|---|---|---|---|
| Total Revenue Annual | 0.25 | 0.21 | 0.36 | 0.01 | 0.12 | |
| Operating Expenses Annual Cr | 0.55 | 0.45 | 0.41 | 0.41 | 0.43 | |
| Operating Profit Annual | -0.30 | -0.45 | -0.04 | -0.40 | -0.31 | |
| Operating Profit Margin Annual % | -119.60 | -215.96 | -12.30 | -5998.51 | -248.26 | |
| Total Expenses Annual Cr | 0.59 | 0.45 | 0.41 | 0.41 | 0.43 | |
| EBIDT Annual Cr | -0.30 | -0.24 | -0.04 | -0.40 | -0.30 | |
| EBIDT Annual margin % | -119.60 | -115.96 | -11.94 | -5991.04 | -247.36 | |
| Depreciation | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | |
| PAT Before ExtraOrdinary Items Annual Cr | -2.58 | -0.30 | -0.07 | -0.52 | -0.35 | |
| Net Profit Annual | -2.58 | -0.30 | -0.07 | -0.52 | -0.35 | |
| Basic EPS Annual | -17.07 | -1.97 | -0.04 | -0.34 | -0.23 |
| Indicator | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Graph |
|---|---|---|---|---|---|---|
| Total ShareHolders Funds Annual | 7.75 | 10.34 | 10.65 | 10.76 | 11.24 | |
| Minority Interest Liability Annual Cr | - | - | - | - | - | |
| Total Non Current Liabilities Annual Cr | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total Current Liabilities Annual Cr | 0.06 | 0.03 | 0.03 | 0.03 | 0.03 | |
| Total Capital Plus Liabilities Annual Cr | 7.84 | 10.38 | 10.68 | 10.79 | 11.28 | |
| Fixed Assets Annual | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | |
| Total Non Current Assets Annual | 3.88 | 6.08 | 3.70 | 3.76 | 3.89 | |
| Total Current Assets Annual | 3.95 | 4.29 | 6.98 | 7.03 | 7.39 | |
| Total Assets Annual | 7.84 | 10.38 | 10.68 | 10.79 | 11.28 | |
| Contingent Liabilities plus Commitments Annual Cr | - | 0.00 | 0.00 | 0.00 | 0.00 |
| Indicator | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Graph |
|---|---|---|---|---|---|---|
| Cash from Operating Activity Annual | -0.57 | -0.49 | -0.41 | -0.40 | -0.44 | |
| Cash from Investing Activity Annual | 0.52 | -3.82 | 4.86 | 0.43 | 0.41 | |
| Cash from Financing Annual Activity | -0.03 | -0.00 | -0.00 | 0.00 | 0.00 | |
| Net Cash Flow Annual | - | -4.30 | 4.44 | 0.03 | -0.03 |
| Indicator | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Graph |
|---|---|---|---|---|---|---|
| Book Value Per Share Annual | 51.18 | 68.33 | 70.33 | 71.06 | 74.28 | |
| ROE Annual % | -33.36 | -2.88 | -0.61 | -4.84 | -3.15 | |
| ROCE Annual % | -4.21 | -2.32 | -0.41 | -3.73 | -2.72 | |
| Total Debt to Total Equity Annual | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| EBDIT Annual Margin % | -119.59 | 0.00 | -11.98 | -6474.19 | -249.59 |
| Indicator | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 | Mar 2023 | Dec 2022 | Sep 2022 | Jun 2022 | Mar 2022 | Dec 2021 | Sep 2021 | Graph |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Qtr Revenue cr | 0.07 | 0.06 | 0.07 | 0.05 | 0.06 | 0.05 | 0.05 | 0.05 | 1.61 | 0.49 | 0.07 | |
| Operating Expenses Qtr | 0.07 | 0.23 | 0.11 | 0.14 | 0.09 | 0.11 | 0.11 | 0.13 | 0.09 | 0.10 | 0.10 | |
| Operating Profit Qtr | -0.01 | -0.17 | -0.04 | -0.14 | -0.09 | -0.07 | -0.06 | -0.08 | 0.26 | -0.10 | -0.10 | |
| EBIDT Qtr Cr | -0.01 | -0.17 | -0.04 | -0.09 | -0.08 | -0.07 | -0.06 | -0.08 | 1.51 | 0.38 | -0.03 | |
| Depreciation Qtr | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Profit Qtr | -2.04 | -0.00 | -0.00 | 0.07 | -0.14 | -0.10 | -0.01 | -0.12 | 1.45 | 0.38 | -0.03 | |
| Basic EPS Qtr | -13.48 | -0.02 | -0.02 | 0.44 | -0.90 | -0.69 | -0.09 | -0.78 | 9.62 | 2.54 | -0.23 |
| Indicator | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Graph |
|---|---|---|---|---|---|---|
| Total Revenue Annual | 0.25 | 0.21 | 2.37 | 0.39 | 0.12 | |
| Operating Expenses Annual Cr | 0.55 | 0.45 | 0.41 | 0.41 | 0.55 | |
| Operating Profit Annual | -0.30 | -0.45 | -0.05 | -0.41 | -0.43 | |
| Operating Profit Margin Annual % | -119.60 | -215.96 | -2.07 | -103.66 | -350.93 | |
| Total Expenses Annual Cr | 0.59 | 0.45 | 0.41 | 0.42 | 0.56 | |
| EBIDT Annual Cr | -0.30 | -0.24 | 1.95 | -0.02 | -0.43 | |
| EBIDT Annual margin % | -119.60 | -115.96 | 82.59 | -5.23 | -350.04 | |
| Depreciation | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | |
| PAT Before ExtraOrdinary Items Annual Cr | -2.58 | -0.30 | 1.93 | -0.14 | -0.49 | |
| Net Profit Annual | -1.98 | -0.37 | 1.89 | -0.14 | -0.48 | |
| Basic EPS Annual | -13.08 | -2.46 | 12.49 | -0.94 | -3.21 |
| Indicator | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Graph |
|---|---|---|---|---|---|---|
| Total ShareHolders Funds Annual | 8.24 | 10.23 | 10.61 | 10.54 | 10.64 | |
| Minority Interest Liability Annual Cr | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | |
| Total Non Current Liabilities Annual Cr | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total Current Liabilities Annual Cr | 0.06 | 0.03 | 0.03 | 0.03 | 0.03 | |
| Total Capital Plus Liabilities Annual Cr | 8.33 | 10.27 | 10.65 | 10.58 | 10.69 | |
| Fixed Assets Annual | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | |
| Total Non Current Assets Annual | 4.38 | 5.97 | 3.74 | 9.51 | 9.24 | |
| Total Current Assets Annual | 3.95 | 4.29 | 6.91 | 1.07 | 1.44 | |
| Total Assets Annual | 8.33 | 10.27 | 10.65 | 10.58 | 10.69 | |
| Contingent Liabilities plus Commitments Annual Cr | - | 0.00 | 0.00 | 0.00 | 0.00 |
| Indicator | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Graph |
|---|---|---|---|---|---|---|
| Cash from Operating Activity Annual | 0.03 | -0.56 | -0.45 | -0.41 | -0.44 | |
| Cash from Investing Activity Annual | -0.08 | -3.74 | 4.86 | 0.43 | 0.41 | |
| Cash from Financing Annual Activity | -0.03 | -0.00 | -0.00 | 0.00 | 0.00 | |
| Net Cash Flow Annual | - | -4.30 | 4.40 | 0.02 | -0.03 |
| Indicator | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Graph |
|---|---|---|---|---|---|---|
| Book Value Per Share Annual | 54.45 | 67.61 | 70.10 | 69.67 | 70.37 | |
| ROE Annual % | -24.03 | -3.63 | 17.82 | -1.34 | -4.55 | |
| ROCE Annual % | -3.96 | -2.34 | 18.40 | -0.20 | -4.06 | |
| Total Debt to Total Equity Annual | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| EBDIT Annual Margin % | -119.59 | 0.00 | 538.53 | -332.25 | -353.19 |
| Name | Holding Percent | Holding Id | Pledged % | Locked % |
|---|
| Name | Holding Percent | Holding Id | Pledged % | Locked % |
|---|---|---|---|---|
| TEJASWY NANDURY | 32.99 | 74547136 | 0 | 0 |
| SOBHA RANI NANDURI | 30.88 | 74547137 | 0 | 0 |
| VENNELA NANDURY | 1.2 | 74547138 | 0 | 0 |
| SOVEN MANAGEMENT ASSOCIATES PRIVATE LIMITED | 3.38 | 74547140 | 0 | 0 |
| NADURY FINANCE AND INVESTMENTS LLP | 3.16 | 74547141 | 0 | 0 |
| ALCHEMIST HR SERVICES PVT LTD | 2.66 | 74547142 | 0 | 0 |
| HIFCO CONSUMER CREDIT LLP | 0.61 | 74547143 | 0 | 0 |
| Name | Holding Percent | Holding Id |
|---|
| Name | Holding Percent | Holding Id |
|---|
| Ex-Date | Dividend Amount | Dividend Type | Record Date | Instrument Type |
|---|
| Ex-Date | Split Ratio | Record Date |
|---|
| Ex-Date | Purpose | Notes |
|---|---|---|
| May 30, 2024 | Quarterly Results | - |
| Jan 31, 2024 | Quarterly Results | - |
| Nov 01, 2023 | Quarterly Results | - |
| Aug 10, 2023 | Quarterly Results | - |
| May 30, 2023 | Audited Results | - |
| Jan 30, 2023 | Quarterly Results | - |
| Nov 01, 2022 | Quarterly Results | - |
| Aug 08, 2022 | Quarterly Results | - |
| May 30, 2022 | Audited Results | - |
| Feb 10, 2022 | Quarterly Results | - |
| Nov 11, 2021 | Quarterly Results | - |
| Aug 11, 2021 | Quarterly Results | - |
| Jun 29, 2021 | Quarterly Results | - |
| Feb 11, 2021 | Quarterly Results | - |
| Nov 12, 2020 | Quarterly Results | - |
| Aug 13, 2020 | Quarterly Results | - |
| Jun 29, 2020 | Audited Results | - |
| Feb 13, 2020 | Quarterly Results | - |
| Nov 14, 2019 | Quarterly Results | - |
| Aug 13, 2019 | Quarterly Results | - |
| May 30, 2019 | Audited Results | - |
| Feb 08, 2019 | Quarterly Results | - |
| Nov 13, 2018 | Quarterly Results | - |
| Aug 13, 2018 | Quarterly Results | - |
| May 29, 2018 | Audited Results | - |
| Feb 14, 2018 | Quarterly Results | - |
| Nov 14, 2017 | Quarterly Results | - |
| Aug 10, 2017 | Quarterly Results | - |
| Aug 03, 2017 | Others | - |
| Jul 05, 2017 | Others | 1.To consider the proposal to surrender the certificate of registration of NBFC voluntarily to Reserve Bank of India. 2.To consider the proposal to discontinue the NBFI Activity by the Company. |
| May 30, 2017 | Audited Results | - |
| Feb 13, 2017 | Quarterly Results | - |
| Nov 09, 2016 | Quarterly Results | - |
| Aug 10, 2016 | Quarterly Results | - |
| May 30, 2016 | Audited Results | - |
| Feb 11, 2016 | Quarterly Results | Approved and adopted the Archival Policy of the Company as per Regulation 30(8) of The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 |
| Nov 04, 2015 | Quarterly Results | - |
| Jul 29, 2015 | Quarterly Results | - |
| May 27, 2015 | Audited Results | - |
| Feb 11, 2015 | Quarterly Results | - |
| Oct 30, 2014 | Quarterly Results | - |
| Jul 30, 2014 | Quarterly Results | - |
| May 29, 2014 | Audited Results | - |
| Jan 30, 2014 | Quarterly Results | - |
| Oct 31, 2013 | Quarterly Results | - |
| Jul 31, 2013 | Quarterly Results | - |
| May 30, 2013 | Audited Results | - |
| Jan 30, 2013 | Quarterly Results | - |
| Oct 31, 2012 | Quarterly Results | - |
| Jul 31, 2012 | Quarterly Results | - |
| May 30, 2012 | Audited Results | - |
| Jan 27, 2012 | Quarterly Results | - |
| Oct 28, 2011 | Quarterly Results | - |
| Jul 29, 2011 | Quarterly Results | - |
| May 26, 2011 | Audited Results | - |
| Jan 27, 2011 | Quarterly Results | - |
| Oct 29, 2010 | Quarterly Results | - |
| Jul 23, 2010 | Audited & Quarterly Results | - |
| Apr 29, 2010 | Quarterly Results | - |
| Jan 29, 2010 | Quarterly Results | - |
| Oct 31, 2009 | Quarterly Results | - |
| Aug 17, 2009 | Audited Results | (Revised) |
| Jul 31, 2009 | Quarterly Results | - |
| Apr 30, 2009 | Quarterly Results | - |
| Jan 30, 2009 | Quarterly Results | - |
| Oct 31, 2008 | Quarterly Results | - |
| Jul 31, 2008 | Audited & Quarterly Results | - |
| Apr 29, 2008 | Quarterly Results & Others | To consider the borrowings for the Company in excess of the paid up capital and free reserves. |
| Jul 25, 2006 | Accounts & Quarterly Results | Accounts for the year ended 31/03/06. |
| Jul 08, 2005 | Accounts & Quarterly Results | - |
| Nov 29, 2004 | AGM & Preferential Issue of shares | - |
| Sep 01, 2004 | Right Issue of Equity Shares | - |
| Ex-Date | Bonus Ratio | Record Date |
|---|
30 May 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Disclosure On Related Party Transactions U/R 23 (9)
Disclosure on Related Party Transaction u/r 23 (9)
30 May 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Announcement Under Regulation 33(3)D (LODR) Of Declaration For Unmodified Opinion
Announcement under Regulation 33(3)d (LODR) of Declaration of unmodified opinion
30 May 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Announcement under Regulation 30 (LODR)-Change in Management
Intimation of appointment of Additional Director
30 May 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Results-Financial Results For Mar 31, 2024
Financial Results for the quarter ended and year ended for Mar 31, 2024
30 May 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Board Meeting Outcome for Outcome Of Board Meeting Held On 30.05.2024.
With reference to the above-mentioned subject, please note that the Board of directors in their Board meeting held on 30.05.2024, has inter-alia transacted the following business: 1. Approval of the annual audited standalone and consolidated financial statements for the financial year ended 31.03.2024. 2. Approval of the audited standalone and consolidated financial results for the quarter ended 31.03.2024. 3. Taken note of the audit report for the audited standalone and consolidated financial statements for the year ended 31.03.2024. 4. Approval of appointment of Mr. Venkata Rao Shankara (DIN- 00041705), as an additional director of Company in the capacity of non-executive non-independent director. Further, it is to inform that the Board meeting has commenced at 03.00 p.m. and the meeting concluded at 5.30 pm on 30.05.2024.
08 May 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Board Meeting Intimation for Intimation Of Notice Of The Board Meeting U/R 29 Of SEBI (LODR) Regulations, 2015 -Reg
PHOTON CAPITAL ADVISORS LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/05/2024 ,inter alia, to consider and approve We hereby inform you that a meeting of the Board of Directors of the Company will be held on Thursday, the 30th May, 2024, at 03:00 p.m. at the registered office of the Company situated at Plot No.90-A, Road No.9, Jubilee Hills, Hyderabad - 500 033, Telangana, India, to consider and approve inter alia the audited standalone and consolidated financial statements of the Company for the financial year ended 31.03.2024 and audited standalone and consolidated financial statements of the Company for the quarter ended 31.03.2024
30 Apr 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Intimation for issue of Duplicate Share Certificate
16 Apr 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Compliances- Certificate Under Reg 40 (9)
Certificate under Reg 40 (9)
12 Apr 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2
Format of the Annual Disclosure to be made by an entity identified as a Large Corporate. Sr. No. Particulars Details 1 Name of Company PHOTON CAPITAL ADVISORS LTD. 2 CIN NO. L65910TG1983PLC004368 3 Report filed for FY 2023-2024 Details of the Current block (all figures in Rs crore): 4 2 - year block period (Specify financial years)* FY 2023-24, 2024-25 5 Incremental borrowing done in FY (T)(a) 0.00 6 Mandatory borrowing to be done through debt securities in FY (T) (b) = (25% of a) 0.00 7 Actual borrowing done through debt securities in FY (T)(c) 0.00 8 Shortfall in the borrowing through debt securities, if any, for FY (T - 1) carried forward to FY (T) (d) 0 8Quantum of (d), which has been met from (c)(e)* 0 9 Shortfall, if any, in the mandatory borrowing through debt securities for FY (T) { after adjusting for any shortfall in borrowing for FY(T - 1) which was carried forward to FY(T)}(f) = (b) - [(c) - (e)]{ If the calculated value is zero or negative, write 'nil'}* Nil Details of penalty to be paid, if any, in respect to previous block (all figures in Rs crore): 2 - year Block period (Specify financial years)FY 2022-23, 2023-24 Amount of fine to be paid for the block, if applicable Fine = 0.2% of {(d) - (e)}#0.00 Name of the Company Secretary :-Shruti AgarwalDesignation :-Company Secretary Name of the Chief Financial Officer :- Sreedhar Babu Kanuri Designation : -Chief Financial Officer Date: 12/04/2024
11 Apr 2024
PHOTON CAPITAL ADVISORS LTD. - 509084 - Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
Format of Initial Disclosure to be made by an entity identified as a Large Corporate. Sr. No. Particulars Details 1Name of CompanyPHOTON CAPITAL ADVISORS LTD. 2CIN NO.L65910TG1983PLC004368 3 Outstanding borrowing of company as on 31st March / 31st December, as applicable (in Rs cr) 0.00 4Highest Credit Rating during the previous FY 0 4aName of the Credit Rating Agency issuing the Credit Rating mentioned in (4)Not Applicable 5Name of Stock Exchange# in which the fine shall be paid, in case of shortfall in the required borrowing under the frameworkBSE We confirm that we are a Large Corporate as per the applicability criteria given under the SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. No Name of the Company Secretary: Shruti Agarwal Designation: Company Secretary EmailId: [email protected] Name of the Chief Financial Officer: Sreedhar Babu Kanuri Designation: Chief Financial Officer EmailId: [email protected] Date: 11/04/2024 Note: In terms para of 3.2(ii) of the circular, beginning F.Y 2022, in the event of shortfall in the mandatory borrowing through debt securities, a fine of 0.2% of the shortfall shall be levied by Stock Exchanges at the end of the two-year block period. Therefore, an entity identified as LC shall provide, in its initial disclosure for a financial year, the name of Stock Exchange to which it would pay the fine in case of shortfall in the mandatory borrowing through debt markets.
