Rashtriya Chemicals and Fertilizers (RCF) is trading higher by 3% at Rs 57 on reports that the government may divest their stake through offer for sale to meet the minimum public shareholding requirement.
“The cabinet committee on economic affairs (CCEA) is likely to meet on Saturday to take a decision on the divestment of 12.5% stake in the company,” the CNBC-TV18 report suggests.
The government currently holds 92.5% stake and would opt for offer sale route to raise funds, added report.
The stock opened at Rs 56 and hit a high of Rs 57.70 on the NSE. Around 750,000 shares have changed hands on the counter till early noon deals on both the exchanges.
