Reuters Market Eye - Shares in MMTC Ltd gain 9.2 percent after the government postponed the planned sale of a 9.33 percent stake in the state-run trading company due to valuation issues.
MMTC shares had earlier fallen as much as 5.7 percent to a record low of 280.05 rupees. The shares have slumped 53.5 percent so far this year as of Monday's close on worries that the share sale would come at a steep discount.
Dealers say MMTC's stake sale at steep discount to prevailing market price would not be agreeable to the government at this point.
(Reporting by Abhishek Vishnoi)
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