Hindustan Copper Shares Surge Amid Record-High Copper Prices
Hindustan Copper's shares saw a significant jump of nearly 5% on Tuesday to settle at Rs 533. This rise comes as copper prices surged to a record high due to expectations that US President Donald Trump could impose tariffs on refined copper imports, according to Bloomberg.
Three-month copper futures on the London Metal Exchange rose by up to 0.7% to $14,617 per tonne on Tuesday.
Nilesh Jain, Head of Technical and Derivative Research at Centrum Finverse, expects Hindustan Copper's shares to remain range-bound in the short term, between Rs 550 on the upper side and Rs 480 on the lower side.
On the other hand, AR Ramachandran, a Sebi-registered research analyst at Tips2trades, remains bullish on the daily charts for Hindustan Copper, with support at Rs 520. He predicts an upside target of Rs 581 in the near term if the shares close above Rs 537.