MMTC has dipped over 5% to Rs 194 on reports that the government is likely to meet today to decide on the base price for its partial stake sale in the company. The issue of which is expected to hit the market on June 13.
“The Empowered Group of Ministers (EGoM) is headed by Finance Minister P Chidambaram is scheduled to meet today derive at the base price for divesting 9.33% in MMTC," the PTI report suggests.
The stake sale, which was originally slated to take place in March, was then deferred on valuation concerns.
The stock opened at Rs 198 and hit a 52-week low of Rs 193 on BSE. A combined around 25,000 shares have changed hands on the counter in early morning deals on BSE and NSE.
“The Empowered Group of Ministers (EGoM) is headed by Finance Minister P Chidambaram is scheduled to meet today derive at the base price for divesting 9.33% in MMTC," the PTI report suggests.
The stake sale, which was originally slated to take place in March, was then deferred on valuation concerns.
The stock opened at Rs 198 and hit a 52-week low of Rs 193 on BSE. A combined around 25,000 shares have changed hands on the counter in early morning deals on BSE and NSE.
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