Shares of RVNL closed at Rs 125.25, down 6.77 per cent over the previous close of the BSE. The government currently holds a 78.20 per cent stake in RVNL.
He expects to garner Rs 20,500 crore through strategic stake sale in FY17
Divestment secretary Aradhana Johri says: "The price that secondary market finally fell to was actually above the price at which a retailer would have got it. So, he still would have made money but then a lot of retailers go by sentiment, they don't know the market."
This fiscal‘s biggest offer for sale, which is IOC's, has already been subscribed over once because of the general category seeing some demand coming in the last hour or so.
"The government has approved proposals for disinvestment in two power sector Central Power Sector Understandings (CPSUs)...NHPC (11.36 percent)...NTPC (5 percent)," Minister of State for Coal and Power Piyush Goyal said in a written reply in the Lok Sabha.
Ryan Detrick, chief technical strategist at Schaeffer's Investment Research spoke to CNBC-TV18 about the latest with the US market.