MMTC is locked in lower circuit for 23 straight trading sessions, is down 5% at Rs 58.75, following falling below its average offer for sale (OFS) price of Rs 61.33 per share on the Bombay Stock Exchange (BSE).
Last month, the government had offloaded 93.3 million shares representing 9.33% of total equity of the company at an average price of Rs 61.33 per share through offer-for-sale, the BSE data shows.
The stock of state-owned trading company has tanked 73% from Rs 218 on June 12, 2013 after the Government of India fixed the share sale price at Rs 60 per share, a huge discount to prevailing market price.
A combined 276,393 shares have changed hands on the counter so far and there are pending sell orders for 5.19 million shares on BSE and NSE at 1022 hours.'
Last month, the government had offloaded 93.3 million shares representing 9.33% of total equity of the company at an average price of Rs 61.33 per share through offer-for-sale, the BSE data shows.
The stock of state-owned trading company has tanked 73% from Rs 218 on June 12, 2013 after the Government of India fixed the share sale price at Rs 60 per share, a huge discount to prevailing market price.
A combined 276,393 shares have changed hands on the counter so far and there are pending sell orders for 5.19 million shares on BSE and NSE at 1022 hours.'
