New Delhi, Aug. 28 -- Hindustan Copper Ltd shares are down about 6.5%, following the closure of the offer for sale (OFS) by the central government, priced at a floor of Rs.514 apiece.

The total mop-up would be around Rs.3,000 crore, including the green-shoe option, while reducing the government's stake by about 6% to 60.1%. Despite the near-term pressure on the stock, strong investor participation in the OFS reflects Hindustan Copper's robust growth outlook.

The company's earnings have seen a marked improvement recently, helped by the steep increase in copper prices, besides limited domestic production capacity. Global copper prices have risen by 45% year-on-year to $14,500 per tonne at the London Metal Exchange (LME), supported by the ...