Hindustan Copper rose 4.76% to Rs 68.20 at 11:53 IST on BSE on bargain hunting after a recent slide.
Meanwhile, the BSE Sensex was up 64.15 points, or 0.24%, to 27,321.79.
On the BSE, so far 4.87 lakh shares were traded in the counter, compared with average daily volumes of 3.13 lakh shares in the past one quarter. The stock had hit a high of Rs 69.40 and a low of Rs 65.25 so far during the day.
The stock hit a 52-week high of Rs 73.60 on 22 August 2016. The stock hit a 52-week low of Rs 42.30 on 19 February 2016. The stock had outperformed the market over the past 30 days till 18 January 2017, rising 11.66% compared with the 3.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.87% as against Sensex's 3.10% decline.
The mid-cap company has equity capital of Rs 462.61 crore. Face value per share is Rs 5.
Shares of Hindustan Copper fell 6.26% in four trading sessions to settle at Rs 65.10 yesterday, 18 January 2017, from its close of Rs 69.45 on 12 January 2017.
The board of directors of Hindustan Copper (HCL) approved proposal for increasing borrowing from the consortium banks/other banks by way of overdraft or cash credit, working capital demand loan, bill discounting, other working capital arrangements from existing Rs 250 crore to Rs 550 crore. The announcement was made during trading hours on Monday, 16 January 2017. Shares of HCL fell 1.10% to settle at Rs 67.45 on that day.
Hindustan Copper's net profit fell 8.6% to Rs 6.77 crore on 20.1% decline in net sales to Rs 161.85 crore in Q2 September 2016 over Q2 September 2015.
Hindustan Copper (HCL) is a vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal. The Government of India holds 82.948% stake in Hindustan Copper (as per shareholding pattern as on 31 December 2016).
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