NMDC share sale a hit, gets Rs 6k cr as FIIs bid big
fe Bureau: Mumbai, Dec 13 2012, 03:23 IST
to collect R30,000 crore through disinvestments this year by selling shares in NTPC, SAIL, Gail and other PSUs.
The NMDC stock lost 3.17% on Wednesday to close at R154.25 on the National Stock Exchange. While the scrip ended in the red, the increase in the free float will make the stock more liquid.
The total number of shares outstanding is 396.4 crore and the free float will amount to 73 crore shares. The company’s total market capitalisation is currently Rs 61,175 crore; after the allotment of the shares, the free-float market capital, at Wednesday’s closing, will be Rs 11,248 crore. The market capitalisation of Coal India is Rs 2,25,100 crore. The stock commands a 12-month trailing earnings per share of Rs 10.90 and currently trades at a one-year forward PE of 9.1 times.
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