Hindustan Copper shares gain for eighth day in a row; market cap back near ₹50,000 crore

Shares of Hindustan Copper Ltd. extended their strong rally for an eighth consecutive session on Tuesday, December 30, rising close to 7% in early trade.

The continued momentum follows a sharp 15% surge on Monday, when the stock hit a fresh all-time high of ₹545.95. Monday's move marked the sharpest single-day gain for Hindustan Copper since April 2010, driven by a rally in global copper prices.

Copper prices on the London Metal Exchange are now hovering near $13,000 a tonne, after scaling record levels.

The rally has been supported by tight global supplies, supportive US economic data, expectations of interest rate cuts by the US Federal Reserve and a weaker dollar. A softer dollar typically boosts demand for dollar-denominated commodities by making them cheaper for holders of other currencies.

Tracking global cues, copper futures on the Multi Commodity Exchange of India also hit a fresh record high.

At its intraday high on Tuesday, Hindustan Copper shares had gained nearly 40% over the ongoing eight-session rally, with the company's market capitalisation nearing ₹50,000 crore.

As of the end of the September 2025 quarter, the government held a 66.14% stake in the PSU.

Retail investors, defined as those with authorised share capital of up to ₹2 lakh, accounted for over 6.3 lakh shareholders and owned a combined 14.5% stake. Mutual funds had a negligible holding, while Life Insurance Corporation of India owned over 4% of the company, a stake now valued at more than ₹2,000 crore.

Nearly 7 crore shares of Hindustan Copper had already changed hands within the first two hours of trade on Tuesday.

At the time of writing, the stock was trading 5.64% higher at ₹514.95. Shares of Hindustan Copper are up nearly 110% so far in 2025.