The stock ended at Rs 190, down 5% from the previous close. The counter witnessed trades of 8.38 million shares on the NSE counter today.
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(Updated at 1008hrs)
SAIL has slipped in early trades despite the government's plans to disinvest 20% in the company.
The stock opened at Rs 195 and touched a low of Rs 190. The stock is now down 2% at Rs 191. Over 169,380 shares have been traded on the counter so far.
The government is considering a two-phase follow on public offer (FPO) that will fetch over Rs 8,000 crore. The 20% FPO will be a combination of 5% dilution of government's equity and 5% issue of additional shares in each phase. The issue will bring the government's holding down to 68% from the current 85%.
