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Stock has gained on good monsoon hope; seems fairly priced at current levels

Ujjval Jauhari 



Thegovernmentissellinga5percentstakeinRashtriyaChemicalsandFertilisers(RCF),amini-ratnacompany,throughanofferforsale(OFS),inwhichretailinvestorscanparticipateonFriday,June30. Ofthe27.58millionsharesofaRs10facevalueonoffer,20percentarereservedforretailinvestors,whowillalsogeta5percentdiscountonthecut-offprice.

ThefloorpricehasbeensetatRs74.25,whichwasaround7percentlowerthanRCF’sclosingpriceofRs79.90onWednesday. Hence,itisnotsurprisingthatthestockcorrectedby6percenttoRs75.10 ...

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First Published: Thu, June 29 2017. 22:50 IST
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