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Our Bureau

Hyderabad , May 9

The Andhra Pradesh Government has decided to divest its holding in Hyderabad Industries Ltd. The Implementation Secretariat (IS) of the AP Public Enterprises Department has informed the stock exchanges that the State Government is disinvesting 3.05 lakh equity shares of the face value of Rs 10 each, representing 4.27 per cent of the paid-up share capital of the company.

The Secretariat said it would divest the State Government's entire shareholding in the company in single lot transaction through competitive bid process.

The State Government had taken equity in several companies that had set up facilities in the State over the years.

Following the policy to exit them and restructure the existing portfolio, it has divested stake in most of the companies. One of the examples being Godavari Fertilisers.

The Hyderabad Industries stock is currently hovering at around Rs 450 on the bourses with a year's highest price of Rs 628 and lowest of Rs 238.

More Stories on : Disinvestment | Cement | Andhra Pradesh

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