NHPC Ltd, Mishra Dhatu Nigam Ltd, IRCON International Ltd, Engineers India Ltd, MMTC Ltd and Indian Overseas Bank and RCF are some of the PSU shares that have fallen over 20 per cent from their 52-week highs.
On Wednesday, the government announced plans to sell 251,125,870 shares, representing a 2.5% stake in NHPC, and set the floor price at Rs 66/share. This was at a steep discount of nearly 10% to the closing price of the stock. Further, the government said it would sell an additional 100,450,348 shares, representing a 1% stake, in case of an oversubscription.
The government proposes to sell an additional 100,450,348 shares, representing 1% of the total paid up capital of the company, in case of an oversubscription. The OFS will open for subscription to institutional investors on Thursday, and for retail investors on Friday.
The NHPC stock has been getting significant investor attention and trading with significantly high volumes. On the NSE, over 2.25 crore shares were trading around 9:35 am. The traded value of the stock on the NSE stood at Rs 166 crore. On the BSE, the counter saw a spurt in volumes by 1.31 times.