On Thursday, September 25, shares of the nation’s top copper producer, Hindustan Copper, increased for the fifth consecutive session. According to data from the National Stock Exchange, the stock has increased by almost 18% during the last five trading sessions and has been steadily rising for 10 of the previous 12 trading sessions. The shares of Hindustan Copper have risen a staggering 35% during the past 12 trading sessions. Following news that the price of copper in global markets jumped to multi-month highs, Hindustan Copper shares increased as much as 6.89% in intraday trading on Thursday, reaching an intraday high of ₹329.99. The world’s largest mining corporation, Freeport-McMoRan, announced a force majeure on contracted shipments from its massive Grasberg mine in Indonesia, the second-largest source of copper, which caused a dramatic increase in the price of the metal.
On Wednesday, the London Metal Exchange saw a 3.6% increase in copper for delivery in three months, settling at $10,336.50 a ton, the highest level in over a year. In New York trade, Freeport’s stock dropped as high as 15%, the biggest since March 2020. A contractual provision known as “force majeure” absolves parties of responsibility in the event that an unforeseen circumstance keeps them from carrying out their end of the bargain.
According to a statement made earlier this month by Hindustan Copper, the consumption of copper has a considerable potential for expansion. According to the report, the demand for copper in the electrical sector is rising as a result of the infrastructure sector’s need. Affordable housing initiatives, rural electrification, renewable energy, electric cars, increased urbanization, etc. are all to blame for this. It further stated that government actions will boost the expansion of industries that use copper.
Due to increased revenues, Hindustan Copper reported a consolidated net profit increase of more than 18% to ₹134 crore in the June quarter (Q1 FY26). In the April–June quarter of the previous fiscal year, 2024–2025, the company reported a net profit of ₹113.40 crore. Hindustan Copper’s overall revenue increased to ₹526.65 crore in the first quarter from ₹500.44 crore in the same time last year. The NIFTY Metal index was up 0.48% as of 12:01 pm, while Hindustan Copper shares were up 5.25% at ₹324.93.
