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Nalco cracks 7% as two-day OFS kicks off

Nalco cracks 7% as two-day OFS kicks off

Wednesday, April 19, 2017, 12:08 PM

Shares of Nalco slumped 7% in Wednesday’s trade as the government kick-started its two-day offer for sale (OFS) for up to 10% stake in the state-run firm. The stock tumbled as the floor-price at Rs 67 was at 8.87% discount to Tuesday’s closing of Rs 73.45 on BSE., the scrip declined 7.01% to hit a low of Rs 68.30 on the exchange, only to recover-later.
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