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MMTC, Hind Copper surge on stake sale, buyback norms/news06012012
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Friday, January 06, 2012
Shares of MMTC rose by 6%, touching the monthly high of Rs824 and Hindustan Copper gained over 4%, hitting the monthly high of Rs278.65, on potential capital raising on the back of market regulator SEBI's relaxed norms for stake sale and buyback of shares, on reports
Though a decision on disinvestment through buybacks is put off for now, the market is pricing in a potential fund raising by select state-run companies as the government is running a large fiscal deficit, said
At 1.31 pm, MMTC was trading at Rs836.90, up by 7.39%, with a volume of 10.32 lakh shares on the BSE.
Hindustan Copper was trading at Rs271.95, up by 1.95%, with a volume of 16.12 lakh shares on the BSE.
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