Hindustan Copper declines on weak Q2 results

Hindustan Copper declined 1.61% to Rs 79.20 at 11:10 IST on BSE after the company reported 72.24% drop in net profit to Rs 17.21 crore on 33.2% fall in total income to Rs 237.62 crore in Q2 September 2014 over Q2 September 2013.

The company announced Q2 results after market hours on Thursday, 13 November 2014.

Meanwhile, the S&P BSE Sensex was up 79.39 points or 0.28% at 28,018.69.

On BSE, so far 37,224 shares were traded in the counter as against average daily volume of 1.4 lakh shares in the past one quarter.

The stock hit a high of Rs 79.60 and a low of Rs 78.10 so far during the day. The stock had hit a 52-week high of Rs 125 on 11 June 2014. The stock had hit a 52-week low of Rs 57.75 on 3 March 2014.

The stock had underperformed the market over the past one month till 13 November 2014, gaining 2.68% compared with the Sensex's 5.9% rise. The scrip had also underperformed the market in past one quarter, falling 7.20% as against Sensex's 7.8% rise.

The mid-cap PSU firm has an equity capital of Rs 462.61crore. Face value per share is Rs 5.

The Government of India holds 89.95% stake in Hindustan Copper as at 30 September 2014.

Hindustan Copper (HCL), a public sector undertaking under the administrative control of the Ministry of Mines, was incorporated on 9th November 1967. It has the distinction of being the nation's only vertically integrated copper producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products.

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