Hindustan Copper Stock Surges 3% Amid Rising Copper Prices: Should You Buy?
- Recent Rally: Hindustan Copper shares gained over 3% on March 26, rising to ₹237.20, driven by heavy buying momentum.
- Strong Long-Term Returns: The stock has delivered impressive returns, soaring 140% over the past two years and a multibagger return of 1,035% in the last five years.
- Increased Trading Volume: Approximately 62 lakh shares were traded, surpassing the one-month average of 59 lakh shares.
- Copper Price Surge: Copper futures hit a record high, fueled by expectations of tariffs on imports and supply disruptions from Chile, boosting Hindustan Copper’s stock.
- Potential US Tariffs: The US may impose tariffs of up to 25% on copper imports, benefiting Indian copper manufacturers, including Hindustan Copper.
- Stock Performance: The stock has gained 5% in the past month but is down 7% year-to-date and 33% over the past six months.
- Analyst View: Analysts see potential for a breakout above ₹235, with the stock possibly reaching ₹277 in the near term.
Is It a Buy? While there have been some corrections recently, Hindustan Copper’s solid long-term performance and potential for growth in the copper market could make it an attractive option for investors.
