Disinvestment in MMTC may not be possible in the immediate future, as stock market conditions are not appropriate for fixing the price band of the thinly traded shares of the company, a top Commerce Ministry official said today. "We are waiting for the right time. The current market condition is not good for disinvestment," the official said.Besides, "as MMTC's shares are very thinly traded in the market, it is very difficult to fix the price band," he added. While its shares are thinly traded in the market, the floating stock is so limited that it does not reflect the true value of the company, the official said. The central government, which holds 99.33% stake in the trading firm, has plans to divest 10% of its shares.
Source: Business Standard
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