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Hindustan Copper soars on eyeing 25% growth in ore production in FY20

Hindustan Copper is currently trading at Rs. 44.40, up by 1.00 points or 2.30% from its previous closing of Rs. 43.40 on the BSE.

The scrip opened at Rs. 43.75 and has touched a high and low of Rs. 44.65 and Rs. 43.60 respectively. So far 68083 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 76.95 on 29-May-2018 and a 52 week low of Rs. 39.95 on 17-May-2019.

Last one week high and low of the scrip stood at Rs. 44.65 and Rs. 40.00 respectively. The current market cap of the company is Rs. 4057.08 crore.

The promoters holding in the company stood at 76.05%, while Institutions and Non-Institutions held 14.62% and 9.34% respectively.

Hindustan Copper is eyeing a 25% growth in ore production to 51.5 lakh tonne in fiscal 2019-20. The company has set a revenue from operations target of Rs 2,000 crore, and capex of Rs 600 crore — mainly for mine expansion projects.

The company has also signed a memorandum of understanding with the Ministry of Mines, outlining the performance targets for this fiscal — raising copper ore production to 51.5 lakh tonne from 41.22 lakh tonne in 2018-19.

Hindustan Copper’s principal activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.

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