SAIL FPO postponed to next fiscal

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SAIL FPO postponed to next fiscal

Post by nirmalbang on Fri Feb 18 2011, 18:04

Today Steel Minister Beni Prasad Verma has declared that the SAIL FPO has been put off to next fiscal year, which begins in April. The government is going to sale 5% stake via this FPO. The company will issue an equal number of new shares to fund further expansions.

Currently, SAIL is trading at Rs 161.85 down 2.47% from its previous close. The stock hit a high of Rs 168.25 and a low of Rs 161.20 so far during the day. The volume of the Stock stood at 1481897 shares on NSE at 14.51 hrs IST.

SAIL is India's largest steel producing company. It is among the top five highest profits earning corporate of the country.

nirmalbang
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