Buy 2-year plan with SD20 code

Journalism of Courage
Advertisement

Govt to sell its entire stake in Hindustan Zinc

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

(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.

Subscriber Only Stories
First published on: 25-05-2022 at 17:04 IST
  • 0
Next Story

Newborn, found alive at graveyard in J&K’s Ramban district, dies

Tags:
  • Hindustan Zinc
Home
ePaper
Next Story
close
Express PremiumIndia looks at options to pay defence dues to Russia: stake sale, bonds, 3rd currency
X