Sesa Sterlite stock drops on CBI investigation

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, December 24, 2013, 14:50 [IST]

Shares in Sesa Sterlite dropped almost 3 per cent in trade following worries over the CBI investigation into the company's acquisition of Hindustan Zinc.

The stock was last trading down 2.36 per cent on the Bombay Stock Exchange.

It may be recalled that, the then Sterlite unit had acquired a 26 per cent stake in Hindustan Zinc from the government in 2006. The unit now owns a substantial 64.92 per cent in Hindustan Zinc, while the government has a 29.54 per cent stake.
Sesa Sterlite is part of the Vedanta Group controlled by Anil Agarwal.

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