Hindustan Copper falls after weak Q2 earnings

Hindustan Copper lost 1.4% to Rs 52.85 at 10:38 IST on BSE after net profit fell 56.9% to Rs 7.41 crore on 9% decline in total income to Rs 216.31 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours on Friday, 6 November 2015.

Meanwhile, the BSE Sensex was down 280.40 points, or 1.07%, to 25,984.84

On BSE, so far 6,145 shares were traded in the counter, compared with an average volume of 47,032 shares in the past one quarter.

The stock hit a high of Rs 53.20 and a low of Rs 51.90 so far during the day. The stock hit a 52-week high of Rs 87.40 on 7 November 2014. The stock hit a 52-week low of Rs 45 on 25 August 2015.

The stock had underperformed the market over the past one month till 6 November 2015, falling 7.03% compared with 2.48% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 16.77% as against Sensex's 7.18% decline.

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

Hindustan Copper has the distinction of being 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 the firm as at 30 September 2015.

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