Hindustan Copper surges after reporting strong Q4 numbers

Hindustan Copper jumped 6.29% to Rs 70.95 at 10:04 IST on BSE after net profit spurted 6919% to Rs 40.71 crore on 58.4% increase in net sales to Rs 513.68 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, the S&P BSE Sensex was down 146.56 points, or 0.48% at 30,512.51. The S&P BSE Mid-cap index was down 150.84 points, 1% at 14,926.13.

High volumes were witnessed on the counter. On the BSE, 8.37 lakh shares were traded on the counter so far as against the average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 71.50 and a low of Rs 68.05 so far during the day.

The stock had hit a 52-week high of Rs 73.60 on 22 August 2016 and a 52-week low of Rs 42.30 on 24 May 2016. The stock had underperformed the market over the past one month till 17 May 2017, advancing 0.98% compared with the Sensex's 4.23% rise. The scrip had also underperformed the market over the past one quarter sliding 1.33% as against the Sensex's 7.69% rise.

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

Hindustan Copper (HCL) is a vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal. The Government of India holds 82.88% stake in Hindustan Copper (as per shareholding pattern as on 31 March 2017).

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