The stock froze 20 per cent upper limit of circuit filter after the steel ministry said it will initiate a plan next month to sell stake in the company. The stock closed at Rs 433.70. The government of India which holds 98.38 per cent stake in the country’s largest producer of iron ore is expected to consider a proposal to divest its stake.
The proposal is expected to be taken up for approval by the cabinet committee of economic affairs on 19 November. In last five trading days, the stock appreciated 52 per cent from Rs 286.20 on November 3.
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