Sterlite, Sesa Goa surge as hurdle in HZL, Balco stake sale cleared
According to reports, the legal hurdle in stake sale of Hindustan Zinc is cleared.
Shares of Sterlite Industries and Sesa Goa have rallied more than 15% each on back of heavy volumes on reports that the legal hurdle in stake sale of Hindustan Zinc is cleared.
Currently, Sesa Goa held 64.92% stake, while the Government of India holds 29.54% stake in Hindustan Zinc, as per the data on the BSE.
Sesa Goa has zoomed over 19% to Rs 155, while Sterlite Industries has rallied 17% at Rs 88.90 on the Bombay Stock Exchange.
Finance ministry sources say the stake sale in Hindustan Zinc & BALCO will be taken place via open auction, CNBC-TV18 reports suggests.
Meanwhile, Hindustan Zinc has also zoomed 13% to Rs 119 on back of heavy volumes on the bourses.
Currently, Sesa Goa held 64.92% stake, while the Government of India holds 29.54% stake in Hindustan Zinc, as per the data on the BSE.
Sesa Goa has zoomed over 19% to Rs 155, while Sterlite Industries has rallied 17% at Rs 88.90 on the Bombay Stock Exchange.
Finance ministry sources say the stake sale in Hindustan Zinc & BALCO will be taken place via open auction, CNBC-TV18 reports suggests.
Meanwhile, Hindustan Zinc has also zoomed 13% to Rs 119 on back of heavy volumes on the bourses.
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First Published: Aug 20 2013 | 1:31 PM IST