National Fertilizers falls for fourth straight session
The government said it will sell 15 per cent stake in the state-run fertiliser company at a floor price of Rs 72.80.
By ETMarkets.com | Updated:
NEW DELHI: Shares of National Fertilizers fell on Friday, extending its losing streak to fourth consecutive session after the government kicked off two-day offer for sale (OFS).
The stock shed 2.46 per cent to end the session at Rs 69.50 on BSE. It opened at Rs 69.50 and touched an intraday high and low of Rs 70.10 and Rs 69.30, respectively.
The government said it will sell 15 per cent stake in the state-run fertiliser company at a floor price of Rs 72.80.
The government owns 89.71 per cent stake in NFL. The sale of 7.35 crore shares or 15 per cent stake would fetch about Rs 530 crore to the exchequer.
The stock has cracked over 11 per in just four sessions cent since its close of Rs 78.70 on July 25, 2017.
It touched its 52-week high of Rs 89.50 on May 11, 2017 and its 52-week low of Rs 29.65 on November 22, 2016.
The stock shed 2.46 per cent to end the session at Rs 69.50 on BSE. It opened at Rs 69.50 and touched an intraday high and low of Rs 70.10 and Rs 69.30, respectively.
The government said it will sell 15 per cent stake in the state-run fertiliser company at a floor price of Rs 72.80.
The government owns 89.71 per cent stake in NFL. The sale of 7.35 crore shares or 15 per cent stake would fetch about Rs 530 crore to the exchequer.
The stock has cracked over 11 per in just four sessions cent since its close of Rs 78.70 on July 25, 2017.
It touched its 52-week high of Rs 89.50 on May 11, 2017 and its 52-week low of Rs 29.65 on November 22, 2016.
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