Oracle Fin hits new low
By
Research Desk
about 11 years ago
Oracle Financial Services is not doing too well today morning. The stock is currently down 2393 and this is after it hit a new 52-week low today at Rs.2350, the low at which it opened for trading.
The stock has hit a low after the company disappointed the market by setting its Offer For Sale (OFS) price at a discount to the market price. It has set the floor price at Rs.2275/share and it proposes to sell 44.3 lakh shares. Thus OFS is to bring down the stake of the company from the present 80.27% to comply with SEBI’s minimum stake holding requirement.