Neyveli Lignite Corporation is trading lower by 3% at Rs 55.95, extending its previous day’s 3.4% fall ahead of Cabinet meeting today to consider the proposal to sell government’s 5% stake in the company.
The Cabinet Committee on Economic Affairs (CCEA) had earlier this month deferred a decision on the stake sale.
“The Department of Disinvestment (DoD) has again moved the proposal for sale of over 7.8 crore shares, or 5%, through an offer for sale (OFS) in the Tamil Nadu-based miner,” the PTI report suggests.
The stock opened at Rs 56 and hit a 52-week low of Rs 55 on BSE. A combined 60,786 shares have changed hands on the counter till 1044 hours on BSE and NSE.
The Cabinet Committee on Economic Affairs (CCEA) had earlier this month deferred a decision on the stake sale.
“The Department of Disinvestment (DoD) has again moved the proposal for sale of over 7.8 crore shares, or 5%, through an offer for sale (OFS) in the Tamil Nadu-based miner,” the PTI report suggests.
The stock opened at Rs 56 and hit a 52-week low of Rs 55 on BSE. A combined 60,786 shares have changed hands on the counter till 1044 hours on BSE and NSE.
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