Govt may sell up to 10% in NALCO share auction: sources

The government is likely to scale back the size of the share auction in state-owned National Aluminium Co Ltd and offer a hefty discount to the market price because of limited float in the stock and sluggish demand outlook for the metal, two sources with direct knowledge of the situation said.

The government is likely to scale back the size of the share auction in state-owned National Aluminium Co Ltd (NALCO) and offer a hefty discount to the market price because of limited float in the stock and sluggish demand outlook for the metal, two sources with direct knowledge of the situation said.

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Earlier on Wednesday, a panel of ministers approved selling a 12.15% stake in the aluminium producer through a share auction on March 15.