Stake sale talk to burnish Hindustan Copper

The stock of Hindustan Copper may see action this week as an Empowered Group of Ministers (EGoM) is likely to take a final call on the proposed disinvestment soon. The panel is likely to fix a date for the auction or offer for sale to dilute 9.5 per cent stake. Currently, the Centre is holding 99.59 per cent stake in the company. The group will also determine the floor price for the one-day auction on the BSE and the NSE. Though the merchant bankers have made their suggestions regarding the floor price, the Government will take a final call on the pricing. The stock on Friday closed at Rs 250.30. It touched 52-week high of Rs 320 and Rs 146.25 on the BSE.