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    Hindustan Copper shares rise more than 5%

    Hindustan Copper shares rose more than 5% on Wednesday, a day after the state-run Indian company said it may not sell shares in a follow-on offer following a jump in cash reserves on the back of soaring copper prices.

    June 08, 2011 / 10:38 IST

    Hindustan Copper shares rose more than 5% on Wednesday, a day after the state-run Indian company said it may not sell shares in a follow-on offer following a jump in cash reserves on the back of soaring copper prices.

    Chairman and Managing Director Shakeel Ahmed had told Reuters in an interview late on Tuesday this could leave the government to sell 10% of its stake in the No. 3 copper producer.

    At 9:39 a.m. (0409 GMT), the shares were up 3.45% at Rs. 289.4 in a weak Mumbai market after rallying more than 5%.

    first published: Jun 8, 2011 10:25 am

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