Hindustan Copper gains 4% on four-fold jump in Q2 profit

Shares of Hindustan Copper today surged four per cent in the early session on BSE, buoyed by a nearly four-fold jump in its second quarter profit reported yesterday.

The state-owned copper major had posted a net profit of Rs 56.21 crore against Rs 15.10 crore in the year ago period, mainly on account of higher prices and sales volumes.

Driven by the smart numbers, shares of the company rose by 3.77 per cent to touch an early high of Rs 456 on Bombay Stock Exchange.

Similarly, on the National Stock Exchange, the scrip was trading 1.95 per cent higher at Rs 448.95. In addition, over 1.42 lakh shares of the company changed hands during the early trade.

Besides, the company had also announced a dividend of ten per cent for its shareholders after almost five years, which according to marketmen also bolstered the investors' sentiment.

Meanwhile, the broader gauge Sensex was trading flat at 20,009.05 points.