Hindustan Copper Hits 52-Week High Surge
Shares of Hindustan Copper jumped about 7%, reaching ₹330 in intra-day trade, edging closer to its 52-week high of ₹353. The rally continued for the fifth straight session.
Copper Prices Drive Momentum
The stock’s rise was supported by a surge in global copper prices. On the London Metal Exchange, copper futures hit a 15-month high of $10,400 per metric ton. The increase was fueled by supply disruptions, particularly from the Grasberg mine in Indonesia, where Freeport declared force majeure after a severe mudflow.
Monthly Gains Strong
So far in September, Hindustan Copper’s shares have gained approximately 43%, marking this as its strongest monthly uptrend since December 2023. The rally also reflects renewed investor confidence following the company’s successful renewal of the Rakha mining lease for 20 years, enabling expansion and mining resumption.
Strategic Partnerships And Outlook
In addition to the lease renewal, Hindustan Copper signed an MoU with Oil India to jointly explore and develop critical minerals—an alignment with the government’s drive for domestic critical mineral capacity. Moving forward, the challenge will be sustaining growth and managing costs amid volatile global metal markets.
