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

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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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