NTPC drops as OFS begins; issue subscribed 13%

NTPC, the country's largest power producer,fell on Thursday after the begining of government's9.5% stakesale through offer for sale (OFS).

The floor price for OFSwas set at Rs 145 a share. The government has offered 783 million shares. Issue subscribed 13.2%by receiving 10.2 million bidsat indicative priceof Rs 145.35 a share as at 10.25 am.

Shares ofthe companyare trading at Rs 149.95, down Rs 2.35, or 1.54% at the Bombay Stock Exchange (BSE) on Thursday at 10:03 a.m.The scrip has touched an intra-day high of Rs 150.80 and low of Rs 149.10. The total volume of shares traded at the BSE is 268,085.In the earlier session, the shares declined 2.12%, or Rs 3.3, at Rs 152.30. Currently, the stock is trading down 21.2% from its 52-week high of Rs 190.30 and above 7.92% over the 52-week low of Rs 138.95.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 156.60 (4.30) (2.75) 1 Month 157.25 (4.95) (3.15) 3 Months 166.95 (14.65) (8.78) 6 Months 171.85 (19.55) (11.38) 1 Year 177.00 (24.70) (13.95) Note: Based on previous day closing price.