NTPC shares down nearly 3%

Shares of NTPC fell by nearly 3

per cent today after the government said it would sell 5 per

cent stake in the country's largest power producer at Rs 168,

which was at a discount of over 3 per cent to yesterday's

closing price.

The stock slipped 2.80 per cent to settle at Rs 168.50 on

BSE. During the day, it dived 4.23 per cent to Rs 166.

The scrip was the worst performer among the 30-share

index components.

On NSE, shares of the company fell by 2.82 per cent to

close at Rs 168.40.

In terms of equity volume, 5.81 lakh shares of the

company were traded on BSE and over two crore shares changed

hands on NSE during the day.

The government's 5 per cent stake sale offer in NTPC was

lapped up by institutional investors who over-subscribed the

portion reserved for them by putting in bids worth nearly Rs

7,800 crore.

Bidding for retail investors, who will be offered 5 per

cent discount over the floor price, will open tomorrow.

The floor price of Rs 168 was at a discount of over 3 per

cent to yesterday's closing stock price of Rs 173.35.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)