MUMBAI Shares in state-run miner NMDC Ltd (NMDC.NS) 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 (NMDC.NS) 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. (Reporting by Abhishek Vishnoi; Editing by Anupama Dwivedi)
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With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column