/images/ppid_59c68470-image-17669851158606980.webp)
/images/ppid_59c68470-image-176673252938662668.webp)
What is the story about?
Shares of Hindustan Copper Ltd. gained for the seventh straight day on Monday, December 29, as copper prices continued to scale new peaks in the global markets.
Global Copper prices are now near the $13,000 mark on the London Metals Exchange as trading resumed after the Christmas holiday. Copper prices also rose 7% in early trade.
There is a fear that US will impose import tariffs on Copper soon, sparking a possible rush of the metal to the US. This, along with unplanned mine outages are driving prices higher.
LME copper traded on the LME at $12,919.50 a ton by 11:38 AM Shanghai time. On Comex in New York, futures were up 1.2% to $5.908 a pound after a 5% surge on Friday while the LME was off.
At the day's high, shares of Hindustan Copper had gained 48% during this seven-day gaining streak, with its market capitalization nearing the mark of ₹50,000 crore.
At the end of the September quarter, the government had a 66.14% stake in the company.
Over 6.3 lakh retail shareholders, or those with authorized share capital of up to ₹2 lakh, had a 14.5% stake in the company, while mutual funds had a negligible stake.
Life Insurance Corporation of India (LIC) owns over 4% of Hindustan Copper, and that stake, is now valued at over ₹2,000 crore.
Shares of Hindustan Copper had surged 22% in the last week, marking their best weekly performance since February 2021, when the stock had risen 73%. Over 5 crore shares of the company have already changed hands within the first hour of the trading session on Monday, compared to their 20-day average of 50 lakh.
Shares of Hindustan Copper are now trading 8.5% higher on Monday at ₹516.3. The stock is trading at levels last seen in March 2010.
Global Copper prices are now near the $13,000 mark on the London Metals Exchange as trading resumed after the Christmas holiday. Copper prices also rose 7% in early trade.
There is a fear that US will impose import tariffs on Copper soon, sparking a possible rush of the metal to the US. This, along with unplanned mine outages are driving prices higher.
LME copper traded on the LME at $12,919.50 a ton by 11:38 AM Shanghai time. On Comex in New York, futures were up 1.2% to $5.908 a pound after a 5% surge on Friday while the LME was off.
At the day's high, shares of Hindustan Copper had gained 48% during this seven-day gaining streak, with its market capitalization nearing the mark of ₹50,000 crore.
At the end of the September quarter, the government had a 66.14% stake in the company.
Over 6.3 lakh retail shareholders, or those with authorized share capital of up to ₹2 lakh, had a 14.5% stake in the company, while mutual funds had a negligible stake.
Life Insurance Corporation of India (LIC) owns over 4% of Hindustan Copper, and that stake, is now valued at over ₹2,000 crore.
Shares of Hindustan Copper had surged 22% in the last week, marking their best weekly performance since February 2021, when the stock had risen 73%. Over 5 crore shares of the company have already changed hands within the first hour of the trading session on Monday, compared to their 20-day average of 50 lakh.
Shares of Hindustan Copper are now trading 8.5% higher on Monday at ₹516.3. The stock is trading at levels last seen in March 2010.
/images/ppid_a911dc6a-image-176685084144136979.webp)
/images/ppid_59c68470-image-176683504664851093.webp)
/images/ppid_59c68470-image-17669775697455711.webp)
/images/ppid_59c68470-image-176698514802250375.webp)
/images/ppid_59c68470-image-176696253291980507.webp)
/images/ppid_59c68470-image-176690502859521166.webp)
/images/ppid_59c68470-image-176674252392724891.webp)
