Shares of Hindustan Zinc experienced a notable decline on Tuesday following reports that the Indian government may be preparing for a fresh divestment. Market participants are reacting to speculation that an Offer for Sale (OFS) could be on the horizon, mirroring recent moves seen in the Hindustan Copper segment.
Reports suggest the government is weighing a sale of approximately 1.5% of its holdings in the mining giant. Such a move is projected to generate between Rs 3,500 crore and Rs 4,000 crore for the exchequer, adding to the state's ongoing efforts to streamline its portfolio.
The stock dipped nearly 3% during today's trading session, reflecting investor caution regarding increased equity supply. With the fiscal year progressing, traders are closely monitoring official announcements to gauge the potential dilution impact on existing shareholders.
