Hindustan Copper off 11.3% in 3 days

Meanwhile, the S&P BSE Sensex was up 130.50 points or 0.68% at 19,308.26.

On BSE, 1.50 lakh shares were traded in the counter as against average daily volume of 1.75 lakh shares in the past one quarter.

The stock hit a high of Rs 70.20 and a low of Rs 68.55 so far during the day. The stock had hit a 52-week low of Rs 65 on 2 July 2013. The stock had hit a 52-week high of Rs 310.90 on 17 September 2012.

The stock had underperformed the market over the past one month till 3 July 2013, sliding 24.67% compared with the Sensex's 2.21% fall. The scrip had also underperformed the market in past one quarter, declining 31.55% as against Sensex's 2% rise.

The mid-cap company has equity capital of Rs 462.61 crore. Face value per share is Rs 5.

Shares of Hindustan Copper have declined 11.37% in three trading sessions from a recent high of Rs 77.80 on 1 July 2013.

The government on Wednesday, 3 July 2013, sold 4.01% stake sale in the state-run firm via offer for sale through stock exchange mechanism. As against a total number of 3.71 crore shares on offer, bids for a total number of 4.38 crore shares were received above the floor price of Rs 70, the finance ministry said after trading hours on Wednesday, 3 July 2013. The issue was subscribed 1.18 times. The approximate gross receipts for the government from the state-sale would be Rs 260 crore. Post divestment of 4.01% stake, the public shareholding in Hindustan Copper stands at 10%, adhering to the Sebi's mandate of minimum public shareholding for state-run firms.

Hindustan Copper's net profit surged 36.9% to Rs 188.09 crore on 29.2% decline in net sales to Rs 414.68 crore in Q4 March 2013 over Q4 March 2012.

Hindustan Copper has the distinction of being India's only vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal.

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