Hindustan Copper rallies 12% amidst divestment buzz

New Delhi: Shares of Hindustan Copper advanced 12 per cent during the trading session on Monday following a buzz over divestment.

ET Now reported that the divestment process of the Hindustan Copper may begin in the upcoming month as the Ministry of Mines has recommended strategic disinvestment in the company.

Following the stake sale buzz, shares of Hindustan Copper surged 12 per cent to Rs 148.65 at 12.10 pm.

According to ET Now, the management control with majority stake will be given to the private player, while the government will keep the minority stake with itself.

Niti Aagyog has recommended full disinvestment of Hindustan Copper, in which the government holds 60.4 per cent stake.