Shares of Hindustan Copper are seeing a strong rise on Dalal Street, driven by a wider surge in the commodity market, where copper prices are reaching new highs.
On Friday, the government-owned company’s stock jumped as much as 8.65 per cent, reaching a new 52-week high of Rs 474.25 on the BSE. Its previous close was Rs 436.50.
Analysts say the rise in Hindustan Copper’s share price is linked to the increasing demand and higher prices of copper in global markets. Investors are optimistic about the company’s prospects, as it benefits from the strong performance of the red metal.
This surge also reflects positive sentiment in the broader commodity sector, where other metal stocks have been performing well. The record-high copper prices are giving a boost to companies involved in mining, refining, and trading of the metal.
Experts believe that if global copper prices remain strong, Hindustan Copper and other related stocks could continue to see upward momentum in the coming weeks.