Hindustan Zinc tanks over 4% after govt defers disinvestment plan

Shares of state-controlled Hindustan Zinc fell over 4 per cent in early trade on Bombay Stock Exchange (BSE) after government deferred stake sale in the company to the next financial year.

Disinvestment of government's remaining stake in Hindustan Zinc and Bharat Aluminium (Balco) will happen next fiscal year, according to PTI report.

Reacting to news, shares of company declined as much as 4.30 per cent to trade at Rs 117.95 a piece on the BSE. In a similar fashion, shares of the company slipped 3.08 per cent to Rs 119.45 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 20,565.39, up 101.33 points or 0.50 per cent at 10:00 hours.

Dion Global Solutions Ltd.

Story first published: Tuesday, February 18, 2014, 13:00 [IST]
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