If the proposal gets Cabinet clearance, the disinvestment is likely to follow the initial public offering of Rashtriya Ispat Nigam Ltd, for which the prospectus has already been filed with the Securities and Exchange Board of India.
The floor price for the issue would be decided after the close of the equity market tomorrow.
The government's 4 per cent stake sale in Hindustan Copper was on Friday over-subscribed, marking the start of ambitious Rs 30,000-crore (Rs 300 billion) disinvestment programme that is crucial for meeting the fiscal deficit target.
After two years of strong gains, smallcap stocks fell sharply in 2025, but the correction may be setting up opportunities for long-term investors.
In what seemed a political understanding, Trinamool Congress chief and Railway Minister Mamata Banerjee stayed away from a cabinet committee meeting where the government finally cleared two disinvestment proposals she had been opposing.
Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices. Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research. Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.
The government has decided to go ahead with the privatisation of Hindustan Copper Ltd, setting aside concerns over the fate of units, which were partially nationalised.
The Supreme Court on Friday issued notices to Union finance and divestment ministries on a petition challenging the privatisation process initiated by the Centre for Hindustan Copper Ltd.
Disinvestment Ministry has stipulated a three year lock in period for prospective bidders vying for stake in Hindustan Copper where Government proposes to shed its entire equity.
To bail out Hindustan Copper Limited from its financial morass, the government plans to restructure the company's capital and waive interest on its loan, guarantee fee among others to adjust against HCL's accumulated loss of Rs 723 crore.
Anil Agarwal, chairman of metals major Vedanta group, has called for the sale of government stake in Bharat Gold Mine and Hutti Gold Mine so as to increase production of the yellow metal in the country. In a social media post, Agarwal said global gold prices are currently at record highs and India imports 99.9 per cent of its requirement. "With massive investments, we can be a major producer of gold and a big generator of employment," Agarwal said.
In a move to attract bidders for loss making Hindustan Copper Ltd, the divestment ministry has decided to ease norms for group transfer of equity stake in the divested company allowing strategic partners a greater say in the matter.
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
Fifteen personnel of the public sector company got trapped in a mine Tuesday night when a cage used to carry the personnel fell down after a rope broke, police said.
The government is likely to take a call on the much-talked about divestment in Hindustan Copper next week.
From the pretty Khushi Kapoor to the lovely Manushi Chhillar to the gorgeous Rekha, the Hindustan Times Most Stylish Awards 2025 saw the glitterati in attendance.
Stock markets would take cues from the upcoming macroeconomic data announcements and global trends besides keeping a watch on the trading activity of foreign investors, analysts said. The last batch of the ongoing earnings calendar would trigger stock-specific action, traders said. "This week, we have to deal with macroeconomic data on both the domestic and global front.
The government on Friday approved sale of its minority stakes in four public sector firms -- Hindustan Copper, Oil India, MMTC and Nalco-- to raise up to Rs 15,000 crore.
The Mines Ministry on Thursday said it will seek Cabinet's approval for its 20 per cent share sale programme for Hindustan Copper Ltd by the end of this fiscal.
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
Inflation data, global trends and foreign fund trading activity would guide equity market movement in a holiday-shortened week, analysts said. Stock markets would remain closed on Tuesday for Independence Day. "Macroeconomic indicators, rupee and FII activities will be pivotal in shaping market trends in the coming days.
Vedanta Ltd, which is planning to restart its copper plant in Tamil Nadu, is weighing the option to sell the unit at a valuation of up to Rs 4,500 crore, banking sources have said. The company had sought expressions of interest (EoIs) for the plant in June last year but did not get a good response as the unit was shut for the last five years. "The process has now restarted with the bankers reaching out to potential bidders," said a banker.
According to industry experts, companies in sectors such as consumer durables (fans, air-conditioners), power cables and the electrical industry will be hit, given that they are big users of copper.
Industry observers were anticipating further divestment in the two public sector companies. The government has already divested about 13 per cent of its stake in aluminum producer Nalco and 0.41 per cent in the copper firm Hindustan Copper. Both, the companies are listed on the bourses.
NALCO may invest Rs 700 crore in two mines of Hindustan Copper
Hindustan Copper, a public sector major, raised the provisional prices of its products across the board by 15 per cent following a similar rise witnessed in the benchmark London Metal Exchange prices.
Re-rating of Bharat Petroleum Corporation, Container Corporation, Shipping Corporation, SAIL, and Hindustan Copper, for which the government has already shown intent to divest its stake, possible now, say analysts.
Aims for share-sale before US holiday season, 'fiscal cliff' kick in
Given wild swings, investors are wondering where the metal market is going. There was a strong uptrend in industrial metal through much of the last three years due to fears of supply chain issues - first due to Covid-19 and then due to the Ukraine War. That uptrend broke down as it became apparent that global growth would moderate as inflation rose and Western Europe (the EU plus the UK) went into a near-recession and China was in a rolling lockdown.
The non-starter Rs 30,000-crore (Rs 300 billion) divestment programme of the government got a little boost towards the close of the year.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
In a significant move to enhance its strategic resource security, India has officially released its first-ever critical minerals list, identifying 30 key critical minerals crucial to the nation's economic growth and technological development. This pioneering step aims at reducing import dependence, enhancing supply-chain resilience, and supporting the country's net-zero objectives. Union Minister Parliamentary Affairs, Coal and Mines Pralhad Joshi, while releasing the Critical Minerals for India report in New Delhi on Wednesday, said, "India is readying for an Atmanirbhar Bharat."
The government is understood to have deferred 'indefinitely' the financial bidding for Shipping Corporation of India and Hindustan Copper Ltd in the wake of a spate of petitions challenging the divestment process in various courts.\n\n\n\n
State-owned aluminium maker Nalco may show interest in developing mines in Afghanistan, which is expected to invite global bids soon for exploration of mineral deposits estimated to be worth $1 trillion.
Chairman of insurance giant says it has invested Rs 16,000 cr in equity till Oct.
After the fiasco in March this year over the share sale in Oil and Natural Gas Corporation ( ONGC ), the government has softened its stand over the pricing.
Earlier this year, the government raised around Rs 1,000-crore by selling its stake in Satluj Jal Vidyut Nigam.
It will be helpful advice for a chief minister-in-waiting who is going to have to deal with empty coffers and overflowing expectations
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