Hind Copper gallops 18% in 2 days on management rejig; hits 52-week high

Hindustan Copper has appointed Ghanshyam Das Gupta as the Unit Head of Khetri Copper Complex; and Ghanshyam Sharma as the interim CMD.

Shares of Hindustan Copper soared 7 per cent to hit a high of Rs 150.90 in Tuesday's intra-day deals on the BSE, a day after rallying over 10 per cent following the change in management at the Khetri Copper Complex.

At 09:55 AM, the stock was up 6.2 per cent at Rs 149.80 on heavy volume of around 11.90 lakh shares as against the two-week daily traded average volume of around 7.34 lakh shares. Meanwhile, the S&P BSE Sensex was up 0.2 per cent at 66,642.

In an exchange filing on Monday, Hindustan Copper (Hind Copper) said that Ghanshyam Das Gupta has taken over the charge of the post of Unit Head, Khetri Copper Complex (a Unit of Hindustan Copper) at the close of working hours on July 31 from outgoing Unit Head of Khetri Copper Complex, Shri Sree Kumar.

"Ghanshyam Das Gupta has work experience of more than 28 years in mining industry, including Gold mining, iron-ore mining, cement industry, aggregate mining industry & presently from last six years, working in copper-mining at the company", the release stated.

Ghanshyam had worked as Unit Head of Matanjkhand Unit of Hind Copper, where he played a key role intransformation of open cast mining to underground mining, the release added.

Further, in a separate filing the company informed exchanges that Arun Kumar Shukla ceased to be Chairman and Managing Director (CMD) of Hind Copper on attaining the age of superannuation on July 31. 

Ghanshyam Sharma, Director (Finance), of the company has been assigned additional charge of the post of CMD, with effect from August 01.

The company has not yet announed the date for its June quarter results.