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Hindustan Copper shares jump 20% as copper prices hit multi-month highs
Benchmark three-month LME copper rose to a six-month high of $14,310 per metric ton, while analysts point to dollar-linked revenue and a weaker rupee boosting earnings outlook.
Hindustan Copper shares climbed about 20% over the past 15 trading sessions, reaching ₹566 apiece, as international copper prices stayed firm and provided support for the company’s margins and revenue outlook, according to LiveMint Markets.
The brokerage firm Anand Rathi said the rally is being helped by Hindustan Copper’s dollar-denominated, LME-linked revenue and currency dynamics, with a weaker Indian rupee providing an additional tailwind.
LiveMint Markets reports that benchmark three-month LME copper hit a six-month high of $14,310 per metric ton in the previous session, extending a seven-week winning run. The strength reflects supply concerns on the London Metal Exchange, where inventories are at the lowest level since February, with stockpiles across the global warehousing network shrinking by almost half since mid-May.
Anand Rathi also highlighted that higher copper prices could support Hindustan Copper’s next phase of growth. The company is preparing for expansion beyond its targeted 12.2 million tonnes of ore production, including plans to restart production at its Ghatsila Copper Project and MoUs to revive copper mining operations in Sikkim and Jharkhand, while LiveMint Markets adds that copper demand in India is expected to double over the coming decade.
Latest closeCopper $6.606 ▲0.2%