Hindustan Copper shares rally for sixth straight session, hit fresh record high; here is why

Shares of the country's leading copper producer Hindustan Copper rose for a sixth straight session on Friday, December 26, to hit a fresh record high. In intraday deals, Hindustan Copper shares rose as much as 6.65% to hit a record high of ₹465.50 on the National Stock Exchange (NSE). On the BSE, Hindustan Copper shares rose as much as 6.62% amid higher than usual trading volumes.

In the month of December alone Hindustan Copper has handsomely rewarded investors as the stock has jumped as much as 37% and in the ongoing six-day winning streak, Hindustan Copper shares have surged as much as 26%, data from the exchanges showed.

Hindustan Copper shares have been witnessing strong buying interest amid surging price of copper in the international and domestic markets amid reports of shortage of the red metal. Copper futures for delivery on December 31 rose as much as 4.22% to hit record high of ₹1,205.40 per kilogram on the MCX.

On the Comex, Copper futures rose as much as 3.65% to hit an intraday high $5.78 per pound, a few points shy of its record high of $5.96.

Copper price has so far this year jumped over 50% amid reports of shortage of the red metal.

As per a report by global investment bank JPMorgan, copper is likely to surge to $12,500 per million tonnes in the second half of 2026 ultimately averaging $12,075/mt for the full year.

JPMorgan report stated that copper market has tightened significantly on the back of acute supply disruptions, sending prices soaring.

"In September, a fatal mudslide occurred at Grasberg in Indonesia — the world’s second largest copper mine — triggering a force majeure; the Grassberg Block Cave portion of the mine, which accounts for 70% of previously forecasted production, is expected to remain closed until the second quarter of 2026. Elsewhere, production guidance at the Quebrada Blanca copper mine in Chile has been downgraded due to operational challenges, further compounding the global shortage," JPMorgan said in a report.

JPMorgan noted that the current market tightness is unfolding against a backdrop of disrupted copper inventories. After front-loading imports earlier in the year, the US now holds ample copper reserves. Yet, with the risk that refined copper may eventually face Section 232 tariffs, US copper prices continue to trade at a premium to the LME.

JPMorgan also highlighted that stronger Chinese demand could further reshape the market. In prior copper rallies, domestic demand in China weakened, encouraging smelters to export. However, the global investment bank suggests the current fundamental setup appears materially different this time.

Hindustan Copper Q2 earnings

Hindustan Copper last month reported an 81% year-on-year (YoY) surge in its consolidated net profit (attributable to the owners of the company) to ₹183.79 crore in the 2025-26 financial year (Q2Y26).

In the same period last year, it had logged a net profit of ₹101.67 crore, it said in a regulatory filing.

Its revenue from operations advanced 38.6% YoY to ₹718.04 crore during the quarter under review, compared to ₹518.19 crore in the September quarter of the 2024-25 fiscal year (Q2FY25).

As of 11:34 am, Hindustan Copper shares traded 6.27% higher at ₹463.85, outperforming the NIFTY Metal index which was up 0.2%.