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Hindustan Copper trades jubilantly on govt’s decision to divest 4% stake

22 Nov 2012 Evaluate

Hindustan Copper is currently trading at Rs 261.80, up by 22.60 points or 9.45% from its previous closing of Rs 239.20 on the BSE.

The scrip opened at Rs 241.50 and has touched a high and low of Rs 276.50 and Rs 222.00 respectively. So far 1176630 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 320.00 on 02-Feb-2012 and a 52 week low of Rs 146.25 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs 262.15 and Rs 232.60 respectively. The current market cap of the company is Rs 24721.82 crore.

The promoters holding in the company stood at 99.59% while Institutions and Non-Institutions held 0.04% and 0.37% respectively.

The government has decided to divest its 4% shares in Hindustan Copper on Nov 23, 2012. The government is expected to raise Rs 900 crore through this divestment thereby starting the Rs 30,000 crore disinvestment programme for the current fiscal.

Earlier, government had planned to offload 9.59% out of its 99.59% equity in Hindustan Copper. However, it has now decided to offload the copper major in two tranches, as it doesn’t want to flood the market with extra liquidity.

This will be the first stake sale in any PSU in the current fiscal year during which the government plans to raise Rs 30,000 crore by way of disinvestment.

Hindustan Copper Share Price

569.60 5.90 (1.05%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco 1038.95
Vedanta 787.60
Hindustan Zinc 592.35
Jain Resource Recycl 420.90
Gravita India 1639.80
View more..

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