Hindustan Copper slumps ahead of govt stake sale

HINDUSTAN-COPPER-SHARES-STAKE-SALE:Hindustan Copper slumps ahead of govt stake sale

Shares in state-run Hindustan Copper Ltd fell as much as 18.6 percent on Friday after the government set the base price for its 4 percents stake sale due later in the day at well below current prices.

The government fixed the base price for its sale of Hindustan Copper shares at 155 rupees per share. Hindustan Copper shares were down 13.7 percent at 229.70 rupees as of 0351 GMT.