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Readymade Steel plunges on FII exit
Thursday 14th Jul 2011 143
Mumbai : Ready made steel india has dipped 9% at Rs 60.20, extending previous session's 39% decline, after the foreign institutional investors (FIIs) sold their entire stake in the company via a bulk deal on the BSE.
The stock had listed at Rs 115 against its issue price of Rs 108 a share on Wednesday, gaining as much as 9% to hit a high of Rs 118 in early trade before seeing a sharp sell-off. It had plunged 44% from the day’s high to close at Rs 66 on the BSE.
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