Web Sify
Follow us on

NMDC falls after sources say auction price may be at a discount

Source : REUTERS
Last Updated: Tue, Dec 11, 2012 04:17 hrs
NMDC to finalise JV with Russia's Severstal by August

Shares in state-run miner NMDC Ltd fell 1.8 percent in early trade after sources said the government may on Tuesday announce a floor price for the NMDC issue in a range of 145 rupees to 150 rupees a share.

Dealers say in the short term, the stock may fall, chasing the likely price band which is below Monday's close of 154.75 rupees.

India has set a share sale in state miner NMDC Ltd for Wednesday, the company said, in a deal which sources said could add up to $1.1 billion to government efforts to ease its yawning budget deficit.

More from Sify:
blog comments powered by Disqus
  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
talking point on sify finance