HZL to shift focus to lead and zinc production in view of a global demand supply gap of 20% and rising industrial consumption of silver
Disc: Invested and hence biased
Vedanta to raise funds and reduce its holding in HZL through OFS . OFS is at a discounted price of Rs 486/ share
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Finally GoI begins disinvestment - It to sell 2.5% of its stake in HZL through Offer for Sale at a Floor price of Rs 505
Retail Investor can bid for shares amounting to Rs 2 Lakhs each which translates into a bid of roughly 400 shares per retail Investor
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Between GOI & Promoters, game thus far has been played well, throwing out dividends and jacking up stock price only to announce the OFS at attractive discount.
Barring those who have bought the stock at much lower rates, new entrants in the last 6 months will find cheated by both promoters & GOI to have lured them with dizzying rally.
Though long term still looks good for the stock, the volatility in the stock price is strangely non-correlated to its underlying metal prices.