NMDC falls after sources say auction price may be at a discount
MUMBAI (Reuters) - 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)
- Tweet this
- Share this
- Digg this
The World Trade Organization failed on Thursday to reach a deal to standardise customs rules, which would have been the first global trade reform in two decades but was blocked by India's demands for concessions on agricultural stockpiling. Full Article
China PMIs jump to multi-month highs in July, add to view economy is steadying Full Article