Select CPSEs fall; NTPC, PFC, NLC India down over 2%

NLC India, NTPC, NHPC, PFC and REC were down upto 4% on BSE in intra-day trade.

Shares of select central public sector enterprises (CPSEs) such as NLC India, NTPC, NHPC, Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) were down up to 4% on BSE in intra-day trade after the government invited law firms to act as legal advisers for divesting its shareholding in seven CPSEs.

Besides these five,  the government intends to sell equity shares in seven firms including Steel Authority of India (SAIL) and Indian Oil Corporation (IOC), via an offer for sale (OFS).

The legal advisers will be involved in the drafting of notices and responses to the stock exchanges