首页|Sterlite takes control of Hindustan Zinc Limited
Sterlite takes control of Hindustan Zinc Limited
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NSTL
The Indian zinc industry became entirely privatised when Sterlite paid Rs 4.45 billion to the Ministry of Mines on April 11 for a 26 percent stake and took control of the management of the company. Sterlite will have 6 directors on the board while government will have 5 with its chairman. Sterlite will nominate the managing director.It was the practice of HZL as PSU to announce monthly prices of zinc and lead based on LME prices and delivered cost inclusive of freight and import duties. It remains whether Sterlite will adhere to this procedure. There is no great scope to hike the prices as most of the buyers are big and they can always resort imports.
NSTL
