Friday , October 22 2021

Hindustan Copper slumps as government plans to sell 5% stake via OFS

Hindustan Copper is currently trading at Rs. 117.45, down by 7.05 points or 5.66% from its previous closing of Rs. 124.50 on the BSE.

The scrip opened at Rs. 118.80 and has touched a high and low of Rs. 119.10 and Rs. 117.10 respectively. So far 342426 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 196.90 on 11-May-2021 and a 52 week low of Rs. 31.45 on 15-Oct-2020.

Last one week high and low of the scrip stood at Rs. 129.75 and Rs. 117.10 respectively. The current market cap of the company is Rs. 11357.70 crore.

The promoters holding in the company stood at 72.76%, while Institutions and Non-Institutions held 14.16% and 13.08% respectively.

The government has planned to sell 5 per cent of its stake in state-owned Hindustan Copper through an offer for sale (OFS) this week. The government will sell 48,351,201 equity shares representing 5 per cent of the total issued and paid up equity share capital of the company.

Hindustan Copper’s principal activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.

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