Govt to promote its whole stake in Hindustan Zinc
1 min readThe Union Cabinet on Wednesday permitted the sale of the federal government’s remaining stake in Hindustan Zinc. The central authorities at present owns a 29.54 per cent stake in Hindustan Zinc which is price round Rs 37,000 crore, sources instructed The Indian Express.
Hindustan Zinc was a majority government-owned firm. The authorities had earlier offloaded 26 per cent stake within the agency in 2002, which was purchased by Anil Agarwal-led Vedanta Group. The mining large later acquired an extra stake within the firm to take its holding to 64.92 per cent.
Shares of Hindustan Zinc ended 4.10 per cent greater at Rs 307.50 apiece on the National Stock Exchange (NSE).
On Tuesday, Vedanta founder and chairman Anil Agarwal in an interview with CNBC-TV18 had mentioned that his firm can solely purchase a 5 per cent further stake in Hindustan Zinc and the remaining will go to the market.