Govt to sell 10% stake in EIL; shares drop 5%
Shares of state-owned Engineers India Limited (EIL) fell as much as 5% in early trade on Thursday. This happened after the government, in a regulatory filing to the BSE, said that it would sell 10% of its stake in the company on Friday. The disinvestment is expected to fetch over ₹690 crore to the Exchequer.