Neyveli Lignite extends fall ahead of Cabinet meet on stake sale
The cabinet is expected to take up today the proposal to sell government's 5% stake in Neyveli Lignite.
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.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jun 21 2013 | 10:44 AM IST