Govt proposes to sell up to 2.5% stake in Hindustan Zinc
The floor price for the same is fixed at Rs 505 a piece, which is nearly 10% discount to the current market price.
Price of Hindustan Zinc shares fell over 2 per cent on the BSE during the early trade on Tuesday, a day after the company posted a 26.7 per cent decline in net profit at Rs 1,620 crore for the December 2019 quarter.
In 2018, during the same period, the net profit was Rs 2,211 crore, the company said in a BSE filing.
Company’s stocks opened at Rs 214 and slumped 2.19 per cent over previous close to Rs 211.75 on the BSE and on the NSE, the scrip lost 2.17 per cent to Rs 211.65.
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At 1.20 pm, Hindustan Zinc’s shares were down by 1.78 per cent at Rs 212.50 on NSE.
On the BSE, it was at Rs 213, dropped by 1.62 pe cent.
Total income during October-December dropped to Rs 5,117 crore as compared to Rs 6,090 crore in the year-ago quarter, the firm said.
(With input from agencies)
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