Hindustan Copper Shares Plunge 7% on Government's Up to 6% Stake Sale Plan

Hindustan Copper's share price plummeted by 7% on Tuesday after the government announced plans to divest up to a 6% stake in the company through an Offer for Sale (OFS). The shares opened at Rs 534.05 per share, down from Monday's closing price of Rs 573.55.

The OFS will open at a floor price of Rs 514 per share, with 10% of the offer size reserved for retail investors and an additional 25,000 shares set aside for eligible employees. The government has also kept an option to sell an extra 3% stake if the issue is oversubscribed.

Hindustan Copper reported a profit before tax of Rs 472 crore for the quarter ended June 2026, marking a growth of around 163% from the year-ago period. The company is also advancing its mine expansion plans and has strengthened monitoring of its ongoing projects.