Shares of Hindustan Copper Ltd surged over 11% on Friday, closing at ₹276.10 on the NSE, after the company unveiled an ambitious capital expenditure plan of ₹2,000 crore over the next five to six years. The stock gained ₹27.52 during the session, making it one of the top gainers of the day.
In a presentation, the state-owned miner announced plans to acquire new copper deposits both in India and overseas, alongside signing MoUs with Indian PSUs to expand its mining portfolio. Additionally, Hindustan Copper is exploring collaboration with Chile’s Codelco, the world’s largest copper producer, for capacity-building initiatives.
On the financial front, the company reported a weak June quarter, with consolidated net profit falling 29% year-on-year to ₹134 crore, compared to ₹190 crore in the same period last year. Revenue slipped 29.4% to ₹516 crore against ₹731 crore a year ago, while EBITDA dropped 20.5% to ₹212 crore. Despite this, margins improved to 41% from 36.5%, signaling cost efficiencies.
At the time of market close, Hindustan Copper’s market capitalization stood at ₹266.86 billion, with the stock trading in a day range of ₹250.99 – ₹276.20.
