Published on 10/01/2018 11:55:10 AM | Source: Dion Global Solutions Ltd

NMDC up 2% on strong response for OFS

Posted in Stock On The Move| #Mining Sector #Stock On The Move #NMDC Ltd.

Shares of state-run NMDC rose nearly 2 per cent on the Bombay Stock Exchange after the company received overwhelming response for its offer for sale (OFS). The government will offload 1.5 per cent stake in the company for Rs 750 crore. Boosted by the development, stocks of the company gained as much 1.97 per cent to trade at an intra-day high of Rs 157.65 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the firm were trading 0.90 per cent higher at Rs 156.10 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 34,404.92, down 38.27 points, or 0.11 per cent, at 11:25 hours.