Hindustan Copper Slumps 8% After Govt Launches Stake Sale

Hindustan Copper's shares plummeted up to 8% on Tuesday after the government launched an offer for sale (OFS) of up to a 6% stake in the state-owned copper producer.

The stock hit an intraday low of Rs 529.35 per share on the NSE, down 7.8%, following the OFS floor price of Rs 514 per share, which represents a discount of around 9.5% to the company's previous closing price of Rs 567.90.

Mayank Jain, Market Analyst at Share.Market by PhonePe, attributed the decline to temporary supply absorption and short-term market overhang rather than a change in Hindustan Copper's business fundamentals.

He noted that long-term demand for copper remains strong, driven by expansion across electric mobility, power infrastructure, data centres, and renewable energy transitions.

Hindustan Copper is India's only listed pure-play copper producer, giving investors direct exposure to copper demand and the broader energy-transition theme.