Shares of MMTC locked in lower circuit for 20 straight trading sessions, is down 5% at Rs 68.45 on BSE.
A combined 54,626 shares have changed hands on the counter till noon deals and there are pending sell orders for 13.47 million shares on BSE and NSE at 1258 hours.
The stock of state-owned trading company has tanked nearly 70% in past one month from Rs 218 on June 12, 2013 after the Government of India (GoI) fixed the share sale price at Rs 60 per share, a huge discount to prevailing market price.
On June 13, 2013, the GoI had raised Rs 560 crore by selling 93.31 million or 9.33% stake in MMTC via Offer for Sale (OFS).
The stock currently trading at its lowest value since July 2006 is 12.3% away from its OFS price.
Meanwhile, investors of MMTC have lost more than Rs 14,000 crore of market capitalization at Rs 6,845 crore in past one month. The company had market capitalization of Rs 21,145 crore as on June 12, 2013.
A combined 54,626 shares have changed hands on the counter till noon deals and there are pending sell orders for 13.47 million shares on BSE and NSE at 1258 hours.
The stock of state-owned trading company has tanked nearly 70% in past one month from Rs 218 on June 12, 2013 after the Government of India (GoI) fixed the share sale price at Rs 60 per share, a huge discount to prevailing market price.
On June 13, 2013, the GoI had raised Rs 560 crore by selling 93.31 million or 9.33% stake in MMTC via Offer for Sale (OFS).
The stock currently trading at its lowest value since July 2006 is 12.3% away from its OFS price.
Meanwhile, investors of MMTC have lost more than Rs 14,000 crore of market capitalization at Rs 6,845 crore in past one month. The company had market capitalization of Rs 21,145 crore as on June 12, 2013.
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