Logo


RCF offer: Subscribe only for long-term gains

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

Fertilizers, Farmers

Thegovernmentissellinga5percentstakeinRashtriyaChemicalsandFertilisers(RCF),amini-ratnacompany,throughanofferforsale(OFS),inwhichretailinvestorscanparticipateonFriday,June30.Ofthe27.58millionsharesofaRs10facevalueonoffer,20percentarereservedforretailinvestors,whowillalsogeta5percentdiscountonthecut-offprice.ThefloorpricehasbeensetatRs74.25,whichwasaround7percentlowerthanRCF’sclosingpriceofRs79.90onWednesday.Hence,itisnotsurprisingthatthestockcorrectedby6percenttoRs75.10 ...