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Hindustan Copper falls to daily limit after share sale
November 26, 2012 / 4:42 AM / 5 years ago

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.

A labourer works inside a copper workshop in Siliguri June 6, 2009. REUTERS/Rupak De Chowdhuri/Files

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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