Hindustan Aeronautics stock plunges 6% as OFS opens

Shares of state-owned Hindustan Aeronautics (HAL) plunged nearly 6% to Rs 2,475 in Thursday’s trade on BSE after the government announced the disinvestment of up to 3.5% stake in HAL to raise about Rs 2,867 crore. The floor price for the offer is set at Rs 2,450 per equity share, a discount of 6.7% to the closing price of Rs 2,625 per share on Wednesday.