Power Grid Corp of India Ltd shares look ripe for profit-taking after rising nearly 6% since Monday's close on the back of good investor response to its $1.1 billion share sale, according to dealers.
Dealers say the rally is being driven by sentiment and not by a change in fundamentals.
Shares sales in other state-run companies in the past have also faltered.
NTPC Ltd shares are almost flat since its $2.15 billion share sale in February from the government's minimum offer price, while NMDC Ltd is about 3.3% lower since its $1.1 billion share sale in Dec 2012, as of Thursday's close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app