NMDC is trading higher by 3% at Rs 164, bouncing back about 7% from day’s low on heavy volumes after its offer-for-sale (OFS) opened today.
The stock opened at Rs 155 and hit a low of Rs 153 has seen an over four-fold jump in trading volumes. As many as combined 5.62 million shares have already changed hands on the counter in early morning deals against an average 1.31 million shares that were traded daily in past two weeks.
The government has fixed Rs 147 a share as the base price for sale of its 10% stake in miner NMDC. The government, which has 90% holding in NMDC, plans to divest 396.47 million shares. The share sale will take place today on separate windows of the stock exchanges -- BSE and NSE today between 9.15 am and 3.30 pm.