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Hindustan Copper surges on getting nod to raise borrowing limits to Rs 2,500 crore

Hindustan Copper is currently trading at Rs. 46.50, up by 1.20 points or 2.65% from its previous closing of Rs. 45.30 on the BSE. The scrip opened at Rs. 46.50 and has touched a high and low of Rs. 46.50 and Rs. 46.50 respectively. 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. 46.50 and Rs. 40.00 respectively. The current market cap of the company is Rs. 4191.24 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 has received an approval for enhancement in the borrowing limit from existing Rs 1500 crore to Rs 2500 crore together with interest other than the temporary loans obtained by way of cash credit / working capital arrangements etc. The Board of Directors of the company at their meeting held on May 28, 2019, approved the same.

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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