Stake sale advisor news lifts CMC

Dalal Street Spikes

 The counter moved up on good buying support in late afternoon trades, after reports of the government inviting bids for the appointment of advisors for the sale of its stake in the company came in, according to market sources.

 The scrip has attracted buying at lower price levels. The government is said to have invited bids for the appointment of an adviser for the sale of its residual stake in the company.

 The government holds 26.25 per cent in CMC and plans to offload the entire stake in the domestic market.