New Delhi: Hindustan Copper Ltd. shares witnessed a sharp rally on Thursday, hitting their 52-week high amid a global surge in copper demand. Over the past four days alone, the stock has jumped 40%, while in the last 30 days, it has gained around 50%. In the past six months, the stock has soared over 180%.
Market Performance
On Thursday, Hindustan Copper shares rose 17.7% to ₹721 on the BSE. By 11:30 AM, the stock was trading at ₹731.55, up 15.62%. This rally began last week when the stock closed at ₹531.80 on 22 January, followed by consecutive gains of 5% on Tuesday and 12.5% on Wednesday, creating strong momentum in the metals sector.
Global Copper Prices on the Rise
The global copper market is witnessing significant price appreciation. On Thursday, MCX January copper contracts surged over 5%, crossing ₹1,350 per kilogram. Analysts cite geopolitical tensions, trade uncertainties, and a weakening dollar as key drivers of rising copper demand.
Senior Research Analyst Jigar Trivedi of IndusInd Securities said, “Copper has reached an all-time high. Futures rose over 5%, crossing $6.2 per pound. Investors are increasingly turning to real assets like gold, silver, and copper due to geopolitical and economic uncertainties.”
Strong Fundamentals Support Rally
Trivedi also noted that supply constraints and strong industrial demand are driving copper prices. The growing use of renewable energy and artificial intelligence technologies worldwide has further boosted demand. Copper stocks in Shanghai, London, and New York have recently increased, with total stock levels now exceeding 900,000 tons.
New Copper Block Fuels Growth Optimism
Adding to the momentum, Hindustan Copper recently emerged as the preferred bidder for a new copper block in Madhya Pradesh, raising expectations of higher production in the future amid rising global demand.
Disclaimer: The analysis above reflects the views of individual analysts or brokerage firms and not Navbharat Times. Investors are advised to consult certified experts before making any investment decisions, as stock market conditions can change rapidly.