Hindustan Copper shares surge for fourth straight session, hit new 52-week high; here is why

Shares of Hindustan Copper, the country's leading copper producer, rose as much as 5.93% to hit a new 52-week high of ₹432 on the National Stock Exchange on Wednesday, December 24. On the BSE, Hindustan Copper shares rose for a third straight session to hit a fresh 52-week high of ₹431.90. In the last three trading sessions, Hindustan Copper shares have surged as much as 11.5%, data from the stock exchange showed.

Hindustan Copper shares have been on an upward spiral after prices of copper in the international and domestic markets surged to record highs. Copper futures for delivery in December surged 1.06% to hit record high of ₹1,152 per kilogram on the MCX. On the Comex Copper futures touched an intraday high of $5.61 per pound.

Hindustan Copper shares came on investors' radar following sharp jump in copper prices in the international markets. Copper price has so far this year jumped as much as 49% to hit record high of $5.95 per pound amid supply shortages.

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).

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹282 crore in Q2 of FY26, reflecting an 86% annual growth from ₹153 crore in the year-ago period.

Its EBITDA margin expanded 1,000 basis points (bps) YoY to 39.3% during the reporting quarter, as against 29.3% in the second quarter of FY25.

As of 9:41 am, Hindustan Copper shares traded 4.18% higher at ₹25, outperforming the NIFTY Metal index which was up 0.53%.

Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.

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