India's NMDC falls after sources say auction price may be at a discount
MUMBAI Dec 11 (Reuters) - 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)
- Tweet this
- Share this
- Digg this
The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreement that could add $1 trillion to the global economy. Full Article