Hindustan Copper shares fall 20% for 2nd day

Shares in state-run Hindustan Copper fell 20 per cent, to their maximum daily limit for the second day after government's stake sale.

The government raised Rs 810 crore by selling shares of Hindustan Copper on Friday, kick-starting a stalled divestment programme that is crucial to reining in a ballooning fiscal deficit.

Dealers said spot market prices are inching closer to the weighted average price of Rs 156.56 in the recently concluded offer for sale.


Copyright Thomson Reuters 2012