Hindustan Copper

State-owned Hindustan Copper Ltd (HCL) on Monday reported a 67.4 per cent rise in consolidated net profit to Rs 101.67 crore for the quarter ended September 30, 2024, on the back of higher revenue from operations. The company had posted a consolidated net profit of Rs 60.70 crore in the year-ago period, HCL said in a filing to BSE. Revenue from operations of the company in the July-September period rose to Rs 518.19 crore from Rs 381.40 crore in the corresponding quarter of previous fiscal. Hindustan Copper Ltd (HCL) is under the administrative control of the mines ministry. It is engaged in mining of copper ore and owns all the operating mining lease of copper ore and is also the only integrated producer of refined copper (vertically integrated company).. The company has the facilities for production and marketing of copper concentrate, copper cathodes, continuous cast copper rod and by-products, such as anode slime (containing gold, silver, etc.), copper sulphate and sulphuric ..

Hindalco, SAIL and Hindustan Copper seem to be favourably placed on the technical charts and can potentially rally up to 13 per cent from present levels; check key support and resistance levels here.

State-owned Hindustan Copper Ltd (HCL) is implementing expansion projects to increase mine production capacity to 12.2 million tonnes per annum (MTPA), its CMD Ghanshyam Sharma said on Thursday. The move will boost domestic production of copper and reduce dependence on imports. The company achieved ore production of 3.78 million tonnes in FY'24 against 3.35 MT in FY'23, registering a rise of 13 per cent. Speaking during the 57th Annual General Meeting, Sharma who is holding the addition charge of Chairman and Managing Director, said that the ongoing capacity expansion project i.e. development of underground mine below the existing open cast mine at Malanjkhand Copper Project (MCP) will augment the ore production capacity from 2.5 MTPA to 5 MTPA. The ore production from open cast mine has now exhausted and underground mine is operating below existing open cast mine leaving some barrier pillar. The project has achieved seamless transition from open cast to underground mine in 2023-2

Nifty has formed a spinning top like pattern on Sept 24 after remaining in a 125 points range. Nifty could now face resistance from 26,250 while 25,611-25,791 band could offer support

Life Insurance Corporation of India (LIC) on Monday said it has sold a 2.09 per cent stake in state-owned Hindustan Copper for Rs 447 crore through an open market transaction. The insurance behemoth has sold a total of 2,01,62,682 shares, or 2.085 per cent stake, in Hindustan Copper, according to a regulatory filing. The shares of Hindustan Copper were sold at an average cost of Rs 221.64 apiece, taking the transaction value to Rs 446.8 crore. With this, LIC's stake in the state-owned company has reduced to 6.09 per cent from 8.17 per cent. "Holding decreased from 8.171 per cent to 6.086 per cent, a decrease of 2.085 per cent during the period from September 27, 2023, to August 16, 2024, at an average cost of Rs 221.64," the filing said. Hindustan Copper Ltd (HCL) is under the administrative control of the Ministry of Mines. It is the only company in the country engaged in mining of copper ore and owns all the operating mining lease of Copper ore and also the only integrated produ

Hindustan Copper's stock rose up to 5.6 per cent at Rs 319.65 a piece on the BSE in Tuesday's intraday deals

State-owned Hindustan Copper Ltd on Monday reported a two-fold rise in consolidated net profit at Rs 113.40 crore for the quarter ended June 30, 2024. The company had posted a net profit of Rs 47.28 crore in the year-ago period, Hindustan Copper said in a filing to BSE. The consolidated income of the company during the April-June period rose to Rs 500.44 crore over Rs 384.73 crore in the year-ago period, the filing said. Hindustan Copper Ltd had earlier said that it is likely to exceed its capex target of Rs 350 crore for the ongoing fiscal year. The company is continuously investing in its ongoing mine expansion plan. Hindustan Copper Ltd (HCL) is under the administrative control of the Ministry of Mines. The company has facilities for the production and marketing of copper concentrate, copper cathodes, continuous-cast copper rods, and byproducts.

State-owned Hindustan Copper Ltd on Friday said it is likely to exceed its capex target of Rs 350 crore for the ongoing fiscal year. "Although this year's capex target is Rs 350 crore, it is expected that the company may exceed the target like last year," the company said in a filing to the BSE. The company is continuously investing in its ongoing mine expansion plan. The PSU has floated tender for the appointment of developer for Rakha mine, it said, adding that once finalised, this will make way for fresh investment. The domestic copper demand in the country will grow in line with the growth of sectors such as renewable, transportation and construction sectors. "Analysts suggest that there will be double-digit growth in these sectors in the short term. Accordingly, copper sector growth is expected to be in double digit," it said. The current per capita refined copper consumption in India is around 0.5 kg, far less than the global average of about 3.2 kg per capita, leaving a hu

Hindustan Copper was trading in a downward sloping channel and has now provided a breakout

State-owned Hindustan Copper Ltd on Friday reported a 6 per cent drop in consolidated net profit to Rs 124.33 crore for the March quarter. The company had posted a consolidated net profit of Rs 132.31 crore in the year-ago period. The consolidated income during the January-March period dropped to Rs 585.22 crore over Rs 611.37 crore in the year-ago period. "The company has achieved a profit before tax of Rs 183.29 crore in the quarter ended March 2024, which is a whopping 123 per cent higher than the immediately preceding quarter," Hindustan Copper said in a statement. "The board has recommended a dividend of 30.11 per cent of PAT for 2023-2024. The payout on this account is estimated to be Rs 88.97 crore to the shareholders of the company," it said.

Fourteen officials and members of a vigilance team of PSU Hindustan Copper Limited were trapped in a mine in Rajasthan's Neem ka Thana district on Tuesday night when a vertical shaft used for transportation of personnel collapsed, police said. Praveen Nayak, Superintendent of Police of Neem ka Thana district, said that a rescue team has reached the trapped personnel and some of them could be injured. Efforts are on to bring out the personnel who are stuck at a depth of several hundred metres at the Kolihan mine, the police said. According to preliminary information, the incident occurred when the vigilance team along with senior officials of the state-owned company went inside the mine for an inspection. When they were about to come up, a rope of the shaft or 'cage' broke due to which around 14 people were stuck, the police said. Khetri MLA Dharmpal Gurjar reached the site and took stock of the situation. Neem ka Thana district is around 108 km from state capital Jaipur.

State-owned Hindustan Copper on Tuesday reported 21.44 per cent decline in consolidated net profit at Rs 63 crore for the quarter ended December 31, 2023 due to lower revenue from operations. The company had posted a net profit of Rs 80.20 crore for the year-ago period, Hindustan Copper said in a filing to BSE. Revenue from operations in the quarter dropped to Rs 399.29 crore from Rs 557.04 crore in the year-ago period. Hindustan Copper is under the administrative control of Ministry of Mines.

In the past two months, it has zoomed 55 per cent. Moreover, in the past eight months, the stock price has more than doubled by skyrocketing 124 per cent

On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities expects Nifty to scale a new all-time high soon.

South West Pinnacle Exploration Ltd (SWPE) has secured a Rs 38-crore order from state-run Hindustan Copper for surface exploratory diamond core drilling in Rajasthan. "We have received a work order from Hindustan Copper Limited for surface exploratory Diamond Core Drilling in the state of Rajasthan. The aggregate value of work is Rs 38 crore including GST," SWPE said in a regulatory filing on Tuesday. In the mining industry, exploratory Diamond Core Drilling is used to probe the contents of deposits. South West Pinnacle Exploration Ltd is a leading private exploration services company in India, in the field of mineral and unconventional energy resources. The company has a drilling capacity between 300 metres to 2,000 metres. Under the Ministry of Mines, Hindustan Copper is the country's only vertically integrated copper-producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream

State-run Hindustan Copper on Friday reported over two-fold jump in net profit at Rs 60.70 crore for the quarter ended September 30, 2023. The company had posted a consolidated net profit of Rs 25.87 crore in the year-ago period. The consolidated income of the company during the July-September period increased to Rs 392.55 crore, over Rs 234 crore in the year-ago period, Hindustan Copper Ltd said in a regulatory filing. In a statement, the company said the sales volume in the September quarter was higher by 49 per cent compared to the corresponding period of last year. On the production front, the growth momentum has been maintained. During the quarter ended September 30, 2023, mine production in terms of copper ore has increased by around 13 per cent compared to the corresponding period of last year.

For 2022-23 (FY23), India's domestic copper production was estimated at half a million tonnes

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

Hindustan Copper and Vedanta may fall up to 19 per cent due to their weak chart structures.

Hindustan Copper Ltd (HCL) was ramping up copper ore production from the Malanjkhand project in Madhya Pradesh to 2.2 million tonnes from the current 1.6 million tonnes and it will be eventually increased to five million tonnes in the next 6-7 years, a company official said. HCL was targeting to increase its total copper ore production to 12.2 million tonnes per annum by FY'29 in its first phase of expansion from 3.57 million tonnes in FY22 and was targeting 3.9 million tonnes in the current fiscal. The state-owned integrated copper miner said it has lined up Rs 350 crore in capex for the current fiscal and of that, Rs 250 crore would be pumped into the Malanjkhand project. HCL was also awaiting lease renewal from the Jharkhand government to reopen the Rakha mines which was closed in 2001-02 due to operational reasons. "Our capex for the current fiscal is Rs 350 crore and we are expecting to exceed. There is a shortfall in production from Malanjkhand due to difficult terrain, but th