Hindustan Copper falls to daily limit after share sale
Reuters Market Eye - Shares in state-run Hindustan Copper(HCPR.NS) fall 20 percent, to their maximum daily limit for the second day after government's stake sale.
India raised 8.1 billion rupees by selling shares of Hindustan Copper on Friday, kick-starting a stalled divestment programme that is crucial to reining in a ballooning fiscal deficit.
Dealers say spot market prices are inching closer to the weighted average price of 156.56 rupees in the recently concluded offer for sale.
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Prime Minister Narendra Modi came to office with a reputation as a business-friendly leader ready to open up one of the world's biggest markets and sweep away the remnants of the country's socialist past. Full Article