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Hindustan Copper Soars 15% To Lifetime High Amid Copper Rally: Should You Invest Or Book Profits?
Hindustan Copper Soars 15% To Lifetime High Amid Copper Rally: Should You Invest Or Book Profits?
Hindustan Copper Share Price: Hindustan Copper shares extended their strong December rally, attracting heightened trader and investor interest. The stock jumped as much as 14.8% in early trade on Monday to touch a fresh lifetime high of Rs 545.95, compared with its previous close of Rs 475.45.
In just seven trading sessions, Hindustan Copper has gained a sharp 48.35%, underscoring the intense momentum seen in the counter.
The surge mirrors growing appetite for metal stocks, particularly copper-linked plays, amid firm global prices and supportive macro conditions. A combination of rising dollar-denominated copper contracts, a weaker rupee and a broader upswing in the metals pack has lifted sentiment around the stock.
Technically, the counter is displaying strong momentum, with a sharp rise in volumes and prices trading well above key daily and weekly indicators. While sentiment has turned decisively bullish on the back of strengthening copper prices worldwide, some caution flags are also emerging.
India's only vertically integrated copper producer has been among the biggest beneficiaries of the recent spike in copper prices. According to Dipan Mehta, Director at Elixir Equities, the copper market is currently in a “fantastic growth phase," driven by expanding industrial usage and global electrification trends.
He noted that although copper prices can be volatile, the broader trajectory remains positive, which is supportive for companies such as Hindustan Copper. Higher realisations from dollar-linked contracts, coupled with a depreciating rupee, have further improved margin prospects. Since a large portion of metal sales is linked to dollar prices, currency movements have worked in the company's favour, boosting earnings visibility and investor confidence.
Despite the strong tailwinds, valuation concerns persist. Mehta cautioned that Hindustan Copper appears expensive even by metals-sector standards and warned that any sharp swings in copper prices could affect earnings. He also flagged limited visibility on volume growth or capacity expansion, which may cap longer-term growth potential.
That said, sustained demand for copper—driven by renewable energy, electrification and infrastructure spending—continues to provide structural support to the company's outlook.
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Analysts advise restraint in the near term despite the positive medium-term view. Sachin Gupta, VP–Research at Choice Broking, pointed out that the stock has surged over 45% in December alone, pushing the Relative Strength Index into overbought territory. He added that emerging negative divergence on the RSI could signal near-term profit booking.
Gupta recommends a “buy on dips" strategy for fresh entrants. He sees strong support around Rs 450, while resistance is placed near Rs 500. Any correction towards the support zone could offer a more favourable entry point, he said.
Source: News18
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