MMTC is locked in lower circuit for the ninth consecutive day, down 5% at Rs 120 on the Bombay Stock Exchange (BSE).
The stock of state-owned trading company is currently quoting at its lowest value since July 2007. The stock has tanked 37% in past nine trading sessions after the government fixed the floor price for stake sale at Rs 60/- per share which is a huge discount to the current market price.
The government had offloaded 93.3 million shares representing 9.33% of total equity of the company at an average price of Rs 61.33 per share through offer-for-sale, the BSE data shows.
A combined 886 shares have changed hands on the counter and there are pending sell orders 20.75 million shares at 0944 hours on BSE and NSE.
The stock of state-owned trading company is currently quoting at its lowest value since July 2007. The stock has tanked 37% in past nine trading sessions after the government fixed the floor price for stake sale at Rs 60/- per share which is a huge discount to the current market price.
The government had offloaded 93.3 million shares representing 9.33% of total equity of the company at an average price of Rs 61.33 per share through offer-for-sale, the BSE data shows.
A combined 886 shares have changed hands on the counter and there are pending sell orders 20.75 million shares at 0944 hours on BSE and NSE.