CCEA clears sale of govt's 29.5% stake in Hindustan Zinc valued at ₹38,000 crore

The Cabinet Committee on Economic Affairs (CCEA) approved the government's 29.5% stake sale in Hindustan Zinc Ltd (HZL), as the Centre looks to accelerate its disinvestment drive, as some key privatisation proposals have hit hurdles.

Key Points:

• The sale of the entire 29.5% stake in HZL could fetch around ₹38,000 crores to the exchequer, according to a PTI report.
• The development would give a push to the government's disinvestment drive in the current financial year. The Centre has budgeted ₹65,000 crores from PSU disinvestment and strategic sale.
• The sale of a 29.5% stake representing over 124.96 crore shares would fetch around ₹38,000 crores to the exchequer at current market prices.
• Shares of HZL closed at ₹305.05, up 3.14% on the BSE. During the day, the scrip touched a high of ₹317.30 a share.