Scrip plunges by 2.5% amid 5% stake sale

Shares of NTPC fell by 2.5 per cent on Tuesday even as the company’s stake sale saw institutional investors portion getting oversubscribed. The scrip of India’s largest power producer fell by 2.33 per cent to settle at Rs 123.90 on BSE. During the day, it had lost 3.35 per cent to Rs 122.60. On NSE, it went down by 2.5 per cent to end at Rs 123.80. On the volume front, 6.64 lakh shares of the company changed hands on BSE and over 96 lakh shares were traded on NSE during the day. Government’s 5 per cent stake sale in NTPC got off to a thumping start with the institutional investors portion getting oversubscribed within two hours of opening of trade. Bidding would open for retail investors, for whom 20% shares are reserved.