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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The BSE Sensex rose to a record high on Monday and the rupee hit a four-month high after the main opposition party BJP, widely seen by investors as being more business friendly, swept three out of four key state elections held since last month. Full Article