Devangshu Datta not positive on Hindustan Zinc

Devangshu Datta, Consulting Editor at Business Standard told CNBC-TV18, "In Hindustan Zinc, the stake sale will make a difference in terms of liquidity, so one has a potential downside. I am going by the history in other PSU stake sales. The metal market is pretty much busted, the global metal market is pretty much busted, so the entire sector in the medium to long-term is probably headed downwards. I would not be very positive on Hindustan Zinc."

On July 18, 2013 Hindustan Zinc closed at Rs 106.70, up Rs 2.60, or 2.50 percent. It has touched an intraday high of Rs 108 and an intraday low of Rs 103.90.

The share touched its 52-week high Rs 146.80 and 52-week low Rs 96.20 on 18 December, 2012 and 27 June, 2013, respectively. Currently, it is trading 27.32 percent below its 52-week high and 10.91 percent above its 52-week low.