Hindustan Zinc shares down after government 1.5% stake OFS buzz
Business
Hindustan Zinc's stock slid nearly 3% on Tuesday after buzz about the government considering selling around 1.5% of its stake through an offer for sale (OFS).
The move could bring in ₹3,500-4,000 crore for the government, but it also sent shares down to ₹586.85 during the day.
Hindustan Zinc down 2.83% over divestments
Hindustan Zinc has dropped 2.83% this year, while the NSE index is up 6.16%.
Investors are a bit uneasy since the government seems focused on selling stakes in several state-run companies, Hindustan Copper included, raising concerns about their future value and ownership.