NTPC Limited has announced that the Govt of India has proposed to sell up to 41.22 crore shares or 5 percent stake of the company.
Indian stock markets plummeted on Tuesday led by the fall in the shares of NTPC after the govt announced that it will sell 5 percent stake in NTPC at Rs 168 per share to raise Rs 7,000 crore.
Stocks of NTPC slipped 3.03%, Sun Pharma went down 1.12%, HDFC and HUL down 1.11% and 0.96% respectively among others.
Meantime, NSE benchmark Nifty50 index has made few alterations in its constituents which will be effective from 29 Sept 2017, as per which the stocks of ACC Ltd, bank of Baroda, Tata Power and Tata motors DVR are being removed from Nifty50 index, whereas Bajaj Finance, Hindustan Petroleum Limited and United Phosphorus Ltd (UPL) are to be included in Nifty50 index.
Live Stock Market: The BSE Sensex is trading at 31,499 down 251 pts, while Nifty is trading at 9,837 down 75 pts.