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BUZZ-India's NALCO slumps; govt to sell up to 10 pct stake in co
April 19, 2017 / 4:05 AM / 5 months ago

BUZZ-India's NALCO slumps; govt to sell up to 10 pct stake in co

** Shares of National Aluminium Co Ltd fall as much as 6.74 pct to lowest since March 8

** India govt to sell up to 10 pct stake in co, an exchange filing showed on Tuesday

** Sets floor price at 67 rupees per share, a discount of nearly 9 pct to Nalco’s closing price on Tuesday

** Govt owned 74.58 pct stake in Nalco as of Dec 31, 2016 - Thomson Reuters Eikon data

** Stock gained about 12.5 pct this year up to Tuesday’s close

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