Hindustan Fluoro in the red
By
Ruma Dubey
about 6 years ago
Hindustan Fluorocarbons is down in the red currently, a decline of 4.5% at Rs.12.70.
The market is not too happy with the latest news doing the rounds – its parent company, Hindustan Organic Chemicals (HOC) which owns 56.4% stake is reportedly in talks to buy out the remaining stake held by the Andhra Pradesh Industrial Development Corporation, banks, financial institutions and individuals.
The market was hoping for a stake sale in the open market through an OFS rather than it getting bought over by HOCL.
Well, this is not yet confirmed news but for now, the market has given it a thumbs down.