Cabinet approves disinvestment proposal of Hindustan Zinc: Source

The Union Cabinet on Wednesday approved the disinvestment proposal of Hindustan Zinc. The government is expected to get Rs 36,000 crore from this disinvestment. A source tells Zee Business.

According to sources, the government will sell its stake in Hindustan Zinc. Cabinet approval has also been received for this. At present, the government holds a 29.5 percent stake in Hindustan Zinc. It is believed that the government is expected to get Rs 36,000 crore from this disinvestment.

- कैबिनेट से #HindustanZinc के विनिवेश प्रस्ताव को मंजूरी: सूत्र

- हिस्सा बिक्री से सरकार को 36000 करोड़ रुपये मिलने की संभावना

- सरकार का 29.5% हिस्सा#CabinetDecisions #Disinvestment@ZeeBusiness @SwatiKJain @BrajeshKMZee https://t.co/eXowUKL2dc

— Ambarish Pandey (@pandeyambarish) May 25, 2022

A cabinet meeting was held on Wednesday under the chairmanship of Prime Minister Narendra Modi. The disinvestment of Hindustan Zinc has been approved in this meeting, said the source.

After the decision of the cabinet to approve the disinvestment of Hindustan Zinc, the company's shares have seen a rise. In the day's trading, the company's shares were trading at Rs 307.50 with a jump of Rs 12.10 or 4.10 percent.