Hindustan Copper drops after reporting reverse turnaround in Q1

Hindustan Copper dropped 4.35% to Rs 67.05 at 13:25 IST on BSE after the company reported net loss of Rs 2.88 crore in Q1 June 2016 compared with net profit of Rs 20 crore in Q1 June 2015.

The result was announced at the fag end of trading session yesterday, 22 August 2016. The stock settled unchanged at Rs 70.10 yesterday, 22 August 2016.

Meanwhile, the BSE Sensex was down 16.37 points, or 0.06%, to 27,969.17.

On BSE, so far 1.7 lakh shares were traded in the counter, compared with an average volume of 1.77 lakh shares in the past one quarter. The stock hit a high of Rs 68 and a low of Rs 66.20 so far during the day. The stock hit a 52-week high of Rs 73.60 yesterday, 22 August 2016. The stock hit a 52-week low of Rs 42.30 on 24 May 2016. The stock had outperformed the market over the past one month till 22 August 2016, gaining 11.89% compared with the Sensex's 0.66% rise. The scrip had also outperformed the market in past one quarter, rising 39.5% as against the Sensex's 10.61% rise.

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

Hindustan Copper's total income fell 10.36% to Rs 221.16 crore in Q1 June 2016 over Q1 June 2015.

Hindustan Copper is India's only vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal. The government of India holds 89.95% stake in Hindustan Copper (as per shareholding pattern as on 30 June 2016).

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