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Dec 11, 2012, 12.59 PM IST

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.

Source: Reuters
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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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