Market Belief

This article highlights the impact of the Indian government's announcement to sell a portion of its stake in the public sector defense company, Hindustan Aeronautics Limited (HAL), through an Offer for Sale (OFS) at a discounted rate compared to the market price. The OFS, which opened for institutional investors on Thursday, has caused a sharp decline in HAL's stock price. The article explores the reasons behind the decline and addresses investor concerns regarding this development. It also provides insights into the OFS details, including the option to retain oversubscription. The soaring flight of Hindustan Aeronautics' shares hit turbulence as the government's announcement of a sale of up to 3.5% at a discounted floor price caused a sharp decline in the stock price. Thursday was anything but smooth sailing for HAL investors. HAL stock plunges after government's OFS announcement! Is the government's HAL OFS causing panic among investors? HAL investors brace fo...