Government Indication to Sell Hindustan Zinc -Government May Reapin $4 Bn plus

The government ministers Mr. Piyush Goel comment that government may pull out of PSU where government of India share is in minority helped Hindustan Zinc share price. Government of India holds around 29% and Vedanta is the majority shareholder. Vedanta is trying to buyout government stake since long but govt resisted given the high dividend yield.

Hindustan zinc share price gained more than 9% and break the one lakh crore market cap.

In case concerned ministry will move the proposal to cabinet then the price of Hindustan Zinc may cross 300 INR.

Full control of Hindustan Zinc will cost Vedanta dearly but at the same time it will help government to meet disinvestment target during current fiscal year.

I already recommended investor to buy shares of Hindustan Zinc in my earlier article 3 weeks back and again recommending to buy it.

Please stay away from F&O market.

Disclaimer: Please consult your financial advisor before investing

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About Devendra Prasad

20 years plus industry veteran of domestic and international ICT domain with the expertise in Business, Technology, Strategy and Analysis. Specializes in forecasting impact analysis, trends and recommendations for Investments, Technology and Regulations.