Copper Rally Boosts Hindustan Copper Stock

Hindustan Copper's shares have been on a steady climb, surging 20% in just 15 trading sessions. The stock has reached Rs.566 apiece, driven by a sustained rise in international copper prices.

The three-month LME copper price hit a six-month high of $14,310 per metric ton recently, buoyed by concerns about availability on the London Metal Exchange. Copper inventories have been dwindling, with stockpiles across the global warehousing network shrinking by almost half since mid-May.

Copper prices have gained more than 13% this year, fueled by optimism over growing demand from data centers and renewable energy. Brokerage firm Anand Rathi expects Hindustan Copper to benefit from the recent rally in copper prices, citing the company's dollar-denominated LME-linked revenue and a weaker Indian rupee.