Both benchmark indices - Sensex and Nifty - recorded their third straight weekly gains by rising 298.61 points and 97 points, respectively.

Given the myriad troubles plaguing AirAsia India, finding a buyer for the Tatas' stake won't be easy.

Of the 1198 bankrupt companies admitted for resolution, just 52 are being sold until September end. The liquidation process has started in 212 cases. There are 816 cases pending for resolution.

However, most Asian markets ended lower after a rout in tech stocks, tracking a hefty sell-off on Wall Street, while the dollar hit a 16-month peak on safe haven bets amid China-US trade war worries.

The company has already made investments worth Rs 75,000 crore in the state so far.

A special resolution in this regard was passed with requisite majority at Usha Martin Limited's extraordinary general meeting, with 99.99 per cent shareholders voting in its favour.