State-owned corporation, Hindustan Copper is putting forth 4% stakes of the organization through an offer available to be purchased. The move is in accordance with the administration's precarious divestment target set in the Union Budget 2017-18.

The President of India acting through and spoke to by the Ministry of Mines, Government of India proposes to offer up to a total of 3,70,08,720 value offers of face estimation of Rs 5 each. The offer available to be purchased (OFS) issue was open for non-retail financial specialists on August 2, while for retail speculators the issue is open on Thursday, August 3, 2017.

The OFS issue was oversubscribed by 1.71 times by non-retail speculators. The floor cost for the offer should be Rs 64.75 for every value share.

Retail Investors may enter a value offer or pick offering at the 'Cut-Off Price'. For this reason, cut-off-value implies the least cost at which the value shares are sold as per the offer, as decided on the premise of every legitimate offer got in the non-retail class on T-day portion to retail financial specialists should be made in light of the cut-off cost.

Retail Investors will be distributed value shares compliant with the offer at a rebate of 5% to the cut-off cost as per the SEBI OFS booklets.

Stock View:

Hindustan Copper Ltd is right now exchanging at Rs 63.5, around Rs 1.55 or 2.38% from its past shutting of Rs 65.05 on the BSE.

The scrip opened at Rs 64.15 and has touched a high and low of Rs 64.2 and Rs 63.3 separately. So far 1259818(NSE+BSE) shares were exchanged on the counter. The present market top of the organization is Rs 6018.56 crore.

The BSE aggregate "A" supply of face esteem Rs 5 has touched a 52 week high of Rs 74.7 on 27-Jul-2017 and a 52 week low of Rs 50.1 on 09-Nov-2016. Most recent one week high and low of the scrip remained at Rs 74.7 and Rs 65 individually.

The promoters holding in the organization remained at 82.88 % while Institutions and Non-Institutions held 13.43 % and 3.69 % individually.