Page 3 - Hindustan Copper

Hindustan Copper awards Rs 38 crore work order to SWPE in Rajasthan

South West Pinnacle Exploration Ltd (SWPE) has secured a Rs 38-crore order from state-run Hindustan Copper for surface exploratory diamond core drilling in Rajasthan. "We have received a work order from Hindustan Copper Limited for surface exploratory Diamond Core Drilling in the state of Rajasthan. The aggregate value of work is Rs 38 crore including GST," SWPE said in a regulatory filing on Tuesday. In the mining industry, exploratory Diamond Core Drilling is used to probe the contents of deposits. South West Pinnacle Exploration Ltd is a leading private exploration services company in India, in the field of mineral and unconventional energy resources. The company has a drilling capacity between 300 metres to 2,000 metres. Under the Ministry of Mines, Hindustan Copper is the country'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

Hindustan Copper Q2 results: Net profit jumps two-fold at Rs 61 crore

State-run Hindustan Copper on Friday reported over two-fold jump in net profit at Rs 60.70 crore for the quarter ended September 30, 2023. The company had posted a consolidated net profit of Rs 25.87 crore in the year-ago period. The consolidated income of the company during the July-September period increased to Rs 392.55 crore, over Rs 234 crore in the year-ago period, Hindustan Copper Ltd said in a regulatory filing. In a statement, the company said the sales volume in the September quarter was higher by 49 per cent compared to the corresponding period of last year. On the production front, the growth momentum has been maintained. During the quarter ended September 30, 2023, mine production in terms of copper ore has increased by around 13 per cent compared to the corresponding period of last year.

India's copper industry has a new entrant, incumbents not worried

For 2022-23 (FY23), India's domestic copper production was estimated at half a million tonnes

Hind Copper gallops 18% in 2 days on management rejig; hits 52-week high

Hindustan Copper has appointed Ghanshyam Das Gupta as the Unit Head of Khetri Copper Complex; and Ghanshyam Sharma as the interim CMD.

Metal index tops the rank of worst performers in Feb, rebound may not hold

Hindustan Copper and Vedanta may fall up to 19 per cent due to their weak chart structures.

HCL to ramp up Malanjkhand production, sets Rs 350-cr capex target for FY23

Hindustan Copper Ltd (HCL) was ramping up copper ore production from the Malanjkhand project in Madhya Pradesh to 2.2 million tonnes from the current 1.6 million tonnes and it will be eventually increased to five million tonnes in the next 6-7 years, a company official said. HCL was targeting to increase its total copper ore production to 12.2 million tonnes per annum by FY'29 in its first phase of expansion from 3.57 million tonnes in FY22 and was targeting 3.9 million tonnes in the current fiscal. The state-owned integrated copper miner said it has lined up Rs 350 crore in capex for the current fiscal and of that, Rs 250 crore would be pumped into the Malanjkhand project. HCL was also awaiting lease renewal from the Jharkhand government to reopen the Rakha mines which was closed in 2001-02 due to operational reasons. "Our capex for the current fiscal is Rs 350 crore and we are expecting to exceed. There is a shortfall in production from Malanjkhand due to difficult terrain, but th

Hindustan Copper pays Rs 74 cr dividend to Centre for FY22: Ministry

State-owned Hindustan Copper has paid a dividend of Rs 74.20 crore to the Centre for FY'22. "Hindustan Copper... has paid today a dividend of Rs 74.20 crore to the Government of India for FY 2021-22 being 30.01 per cent of Profit After Tax (PAT) in compliance with DIPAM guidelines," the mines ministry said in a statement. Total dividend pay-out to all shareholders was Rs 112.17 crore. The dividend per share was the highest ever declared by the company. During FY'22, the company achieved the highest-ever net turnover of Rs 1,812 crore and Profit Before Tax of Rs 381.76 crore. The company is currently implementing its mine expansion plan to achieve 12.2 million tonnes per annum ore production. Hindustan Copper, a public sector undertaking, is under the administrative control of the mines ministry. It is the country's only vertically integrated copper producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refin

Hindustan Copper shareholders approve 23.2% dividend for FY22

Shareholders of state-owned Hindustan Copper Ltd (HCL) on Wednesday approved a 23.2 per cent dividend for the financial year ended in March 2022. The company would make a total dividend payout of Rs 112.17 crore as approved in the 55th Annual General Meeting, HCL said in a statement. During the meeting, HCL Arun Kumar Shukla said the production from the company's flagship project, Malanjkhand underground mine, has commenced. He also informed that the company has repaid a loan of Rs 729 crore in FY2021-22 from its internal accruals. As the global economy moves toward net zero carbon emissions through the energy transition, the role of copper remains pivotal as the most efficient conductive material, indispensable for capturing, storing and transporting green energy, he said. Hence, a significant rise in demand for copper has been predicted on account of the thrust on a low-carbon economy, he added.

FPIs increase their holdings sharply in 5 companies as on June 30

According to the data compiled by Prabhudas Lilladher showed, foreign investors increased their holding in RHI Magnesita India Ltd to 2.2 per cent, as compared to 0.64 per cent as on March 31.

India's trace mineral SPV plans equity top-up, ministries hold talks

The three promoter companies have promised to plumb in equity in the ratio of 40:30:30

Formation of mining conglomerate to enhance capacity: Hindustan Copper

Hindustan Copper CMD Arun Kumar Shukla suggested this to the government at a round-table discussion held during the 6th National Conclave on Mines and Minerals

Hind Copper to seek shareholders' nod to raise Rs 500 cr via debentures

Hindustan Copper Ltd, under the administrative control of the ministry of mines, is a vertically integrated copper producing company

Stocks to watch: Adani Enterprises, Dish TV, Infosys, Hindustan Copper

Stocks to watch today: Adani Enterprises subsidiary raised over Rs 6,000 crore to set up greenfield copper refinery; State-run IOB will boost advances across retail, corporate and MSME loans this year

Hindustan Copper board to consider raising Rs 500 cr via debentures

The board will also consider raising funds through a qualified institutional placement method, it added.

Hind Copper posts net profit of Rs 89 cr in Q4, declares Rs 1.16 dividend

Hindustan Copper said its profitability has improved on account of dynamic marketing policy, effective procurement of services, reduction of loans and rise in LME prices

Commodity boom! Hind Copper, NTPC, NMDC to see up to 30% rally

With Nickel, Gold and wheat also hitting multi-year highs like Crude Oil, these five commodity related shares are likely to witness strong gains, indicate charts.

Market wrap: Sensex slips 143 pts; Nifty holds 17,500; Realty worst hit

Nifty Metal shines; Hindustan Copper gains 6%; Godrej Properties, Monte Carlo Fashions slump 10% each; Vedant Fashions IPO subscribed only 11% on day 1

Hindustan Copper Q2 profit after tax rises seven-fold to Rs 68 crore

The firm on Tuesday reported a seven-fold rise in consolidated profit after tax

Top headlines: Moody's upgrades India's outlook; Vedanta eyes Hind Copper

Business Standard brings you the top headlines on Tuesday

Anil Agarwal-led Vedanta eyes buying govt's stake in Hindustan Copper

Agarwal says due diligence is being done and that the company is waiting for date of Hind Copper's privatisation to be announced