Hindustan Copper Sees Record Quarter Amid Copper Price Surge

Hindustan Copper has delivered its strongest quarter yet, thanks to record copper prices and inventory depletion in London Metal Exchange warehouses. The company's revenue surged 81.4% year-over-year to Rs 937 crore, while operating profit jumped 139.4% to Rs 508 crore.

Brokerage Anand Rathi maintains a BUY call on Hindustan Copper, with a target price of Rs 715, representing a potential upside of around 25%. The forecast is based on the company's integrated copper operations in India and its long-term production runway, which spans over two decades.

The global supply-demand dynamics are favorable for copper prices, which have reached an all-time high above $14,200 per tonne. Additionally, Hindustan Copper's cash cost of around Rs 266 a pound is competitive with peers in the industry.