NTPC, Indian Oil decline on disinvestment buzz
NTPC dipped 6% to Rs 134 and IOC was down 3% to Rs 323 on the NSE in intra-day trade.
 "NTPC, Indian Oil decline on disinvestment buzz")
Shares of NTPC and Indian Oil Corporation (IOC) have fallen by up to 6% on the bourses after media reports suggested that the cabinet committee on economic affairs (CCEA) approved the stake sale in these two companies.
NTPC dipped 6% to Rs 134 and IOC was down 3% to Rs 323 on the NSE in intra-day trade.
The cabinet on Wednesday cleared a proposal for 10% disinvestment in Indian Oil Corp and 5% in NTPC, which may fetch the government close to Rs 8,500 crore at the current prices, a Business Standard report suggests. CLICK HERE TO READ FULL REPORT.
At 1232 hours, NTPC was down 3.5% to Rs 137 and IOC had shed 1% to Rs 331 on the NSE.
NTPC dipped 6% to Rs 134 and IOC was down 3% to Rs 323 on the NSE in intra-day trade.
The cabinet on Wednesday cleared a proposal for 10% disinvestment in Indian Oil Corp and 5% in NTPC, which may fetch the government close to Rs 8,500 crore at the current prices, a Business Standard report suggests. CLICK HERE TO READ FULL REPORT.
At 1232 hours, NTPC was down 3.5% to Rs 137 and IOC had shed 1% to Rs 331 on the NSE.