Government to sell residual stake in Hindustan Zinc Limited

The government will sell its stake in HZL following the Supreme Court's decision on Thursday, a senior official said.

All options of disinvestment including open market sale will be considered. "The government will examine the options on proceeding with sale, whether it will be in tranches and over a period of time and then take a call on the timing of the sale," the official added.

The government holds a residual stake of 29.54% in the company which is amongst the world's largest zinc-lead-silver producers.

HZL's scrip closed at Rs 323.10 on the BSE, down 2.87% on Thursday. At this price, the government can garner over Rs 40,273 crore from selling its entire shareholding.