India

Modi Govt to sell its entire stake in Hindustan Zinc

The Union Cabinet on Wednesday approved the sale of the Modi government’s remaining stake in Hindustan Zinc

By NH Web Desk
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The Union Cabinet on Wednesday approved the sale of the Modi government’s remaining stake in Hindustan Zinc. The government currently owns a 29.54% stake in Hindustan Zinc which is worth around Rs 37,000 crore, reported The Indian Express

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Hindustan Zinc was a majority government-owned company. The government had earlier offloaded 26 % 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%.

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Shares of Hindustan Zinc ended 4.10% higher at Rs 307.50 apiece on the National Stock Exchange (NSE).

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Also read:Government sells 51% stake in Pawan Hans for Rs 211.14 cr

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