Moneycontrol
Dec 11, 2012 12:59 PM IST | Source: Reuters

NMDC falls after talks of auction price at a discount

Shares in state-run miner NMDC 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 Rs 145 to Rs 150 a share.

NMDC falls after talks of auction price at a discount

Shares in state-run miner NMDC 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 Rs 145 to Rs 150 a share.


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

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

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