Hindustan Copper shares surge 35% in 12 trading sessions; here is why

Shares of Hindustan Copper, the country's leading copper manufacturer, rose for a fifth straight session on Thursday, September 25. The stock has surged nearly 18% in the last five trading sessions and it has been continuously gaining on 10 out of last 12 trading sessions, the data from National Stock Exchange showed. During last 12 trading sessions, Hindustan Copper shares have gained a whopping 35%.

In intraday deals on Thursday, Hindustan Copper shares rose as much as 6.89% to hit an intraday high of ₹329.99 after reports suggested that copper price in international markets surged multi-month highs.

The sharp surge in copper price came after the world's leading mining company - Freeport-McMoRan - declared force majeure on contracted supplies from its giant Grasberg mine in Indonesia, the second-largest source of the metal, news agency Bloomberg reported.

Copper for delivery in three months rose 3.6% to settle at $10,336.50 a ton on the London Metal Exchange on Wednesday, the highest in more than a year. Freeport’s shares fell as much as 15% in New York trading, the most since March 2020, Bloomberg report added.

Force majeure is a contractual clause that releases parties from their obligations when an extraordinary event beyond their control prevents them from fulfilling their contractual duties.

Earlier this month, Hindustan Copper said that there is a significant growth potential for copper consumption.

It said copper demand in the electrical segment is growing due to demand in the infrastructure sector. This is the result of affordable housing schemes, rural electrification, renewable energy, electric vehicles, more urbanisation, etc. It added that government initiatives will further increase growth of the copper-consuming industries.

Hindustan Copper Q1 earnings

Hindustan Copper posted over 18% rise in consolidated net profit to ₹134 crore in June quarter (Q1 FY26) on the back of higher revenues.

The company had posted a net profit of ₹113.40 crore in the April-June period of the preceding 2024-25 financial year.

According to an exchange filing, Hindustan Copper's total income rose to ₹526.65 crore in the first quarter against ₹500.44 crore logged in the same period a year ago.

As of12:01 pm, Hindustan Copper shares traded 5.25% higher at ₹324.93, outperforming the NIFTY Metal index which was up 0.48%.