(Reuters) - At 11 a.m. , the stock was down 4.6 percent at 504.20 rupees in a Mumbai market that was up 0.9 percent.
"The stock is reacting because of higher-than-expected equity dilution, which would be anywhere between 40-46 percent," said Hitesh Agrawal, a steel analyst at Mumbai-based Angel Broking.
Read more at Reuters.com Hot Stocks News
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