scorecardresearch
Follow Us:
Sunday, July 03, 2022

Govt to sell its entire stake in Hindustan Zinc

The government currently owns a 29.54 per cent stake in Hindustan Zinc.

By: Express Web Desk | New Delhi |
Updated: May 25, 2022 5:26:11 pm
(Image source: Hindustan Zinc's website)

The Union Cabinet on Wednesday approved the sale of the government’s remaining stake in Hindustan Zinc. The central government currently owns a 29.54 per cent stake in Hindustan Zinc which is worth around Rs 37,000 crore, sources told The Indian Express.

Hindustan Zinc was a majority government-owned company. The government had earlier offloaded 26 per cent stake in the firm in 2002, which was bought by Anil Agarwal-led Vedanta Group. The mining giant later acquired a further stake in the company to take its holding to 64.92 per cent.

Shares of Hindustan Zinc ended 4.10 per cent higher 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 said that his company can only buy a 5 per cent additional stake in Hindustan Zinc and the remaining will go to the market.

Best of Express Premium
NITI Aayog-commissioned report which studied 3 orders by Supreme Court, 2...Premium
Tavleen Singh writes: Islamism has no place in IndiaPremium
‘The biggest problem is our dependence on imported energy, which is 4% of...Premium
A Letter From Silchar, Assam: Down a town, on a boat with a bodyPremium

UPSC KEY Have you seen our section dedicated to helping USPC aspirants decode daily news in the context of their exams?

📣 Join our Telegram channel (The Indian Express) for the latest news and updates

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement