State Trading Corporation of India has soared 15% to Rs 114, extending its past two days rally, on back of heavy volumes. The stock opened at Rs 103 and touched high of Rs 119 on NSE.
The trading volumes on the counter surged by over three-fold today. A combined 1.54 million shares already changed hands till 1115 hours against an average less than 400,000 shares that were traded daily in past two weeks on NSE and BSE.
Shares of state-owned company have rallied 56% in past three trading sessions Rs 72.90, after the government offloaded part of its stake through offer-for-sale (OFS) on August 2.
The government of India had sold 613,600 equity shares of the company for Rs 4.53 crore, at an average price of Rs 73.92 per share, according to BSE filing.
The stake sale in STC India got over-subscribed 1.13 times with bids coming in for over 690,000 shares, against 613,000 shares on offer. The floor price had fixed at Rs 74 per share fixed for OFS.
The trading volumes on the counter surged by over three-fold today. A combined 1.54 million shares already changed hands till 1115 hours against an average less than 400,000 shares that were traded daily in past two weeks on NSE and BSE.
Shares of state-owned company have rallied 56% in past three trading sessions Rs 72.90, after the government offloaded part of its stake through offer-for-sale (OFS) on August 2.
The government of India had sold 613,600 equity shares of the company for Rs 4.53 crore, at an average price of Rs 73.92 per share, according to BSE filing.
The stake sale in STC India got over-subscribed 1.13 times with bids coming in for over 690,000 shares, against 613,000 shares on offer. The floor price had fixed at Rs 74 per share fixed for OFS.