Hindustan Copper Shares Rise 20 Percent on Global Price Rally
· Business · LiveMint, Economic Times
Hindustan Copper shares have surged 20% over the last 15 trading sessions, reaching a price of ₹566 per share. This market recovery is driven by a sustained increase in international copper prices, with benchmark three-month LME copper hitting a six-month high of $14,310 per metric ton. The price rally follows a significant decline in global LME inventories and increased demand for the metal in data centers and renewable energy projects. Hindustan Copper, which holds approximately 40% of India's copper ore reserves, is also moving to expand production through new mining operations in Sikkim and Jharkhand. Brokerage firm Anand Rathi expects the company to benefit further from its dollar-denominated revenue and the current weakness of the Indian rupee.
Why it matters
The rally in copper prices and Hindustan Copper's production expansion could significantly boost the company's revenue and profit margins, impacting investors and the domestic industrial sector that relies on the metal.
Read the original report — LiveMint
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