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Hindustan Copper soars 14% in three days

Capital Market 

State-run Hindustan Copper spurted 9.91% to Rs 36.05, extending gains for the third consecutive session.

Shares of Hindustan Copper soared 13.90% in three trading sessions from a recent closing low of Rs 31.65 hit on 15 October 2020.

Hindustan Copper's consolidated net profit rose 40.1% to Rs 29.69 crore on 41.9% increase in net sales to Rs 431.43 crore in Q1 June 2020 over Q1 June 2019.

Hindustan Copper is engaged in exploration, exploitation, mining of copper and copper ore, including beneficiation of minerals, smelting and refining. The firm manufactures and markets copper cathode, continuous cast copper wire rod and metal in concentrate. The company also offers copper concentrate. As of 30 September 2020, the Government of India holds 76.05% stake in the copper producer.

The scrip has galloped 96.99% from its 52-week low of Rs 18.30 hit on 25 March 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, October 20 2020. 13:49 IST