Shares of state-run MMTC and Hindustan Copper rose on potential capital raising on the back of market regulator SEBI’s relaxed norms for stake sale and buyback of shares,two dealers said.
Though a decision on disinvestment through buybacks is put off for now,the market is pricing in a potential fund raising by select state-run companies as the government is running a large fiscal deficit,one of the dealers said.
At 10:26 a.m,shares of MMTC were up 3.9 percent at 811.65 rupees and Hindustan Copper 1.69 percent at 271.40 rupees.
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