MUMBAI Dec 11 Shares in Indian state-run miner NMDC Ltd 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 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)
Trending On Reuters
Three of India's leading state-run lenders reported a drop in their first quarter net profits, weighed down by rise in provision for bad loans and cooling expectations of a turnaround in the country's dominant but ailing government banking sector. Full Article