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Hindustan Copper surges on plans to raise $250 million via ECB route

09 Apr 2012 Evaluate

Hindustan Copper is currently trading at Rs. 275.25, up by 3.40 points or 1.25% from its previous closing of Rs. 271.85 on the BSE.

The scrip opened at Rs. 272.50 and has touched a high and low of Rs. 279.95 and Rs. 272.50 respectively. So far 59075 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 324.90 on 15-Apr-2011 and a 52 week low of Rs. 146.25 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 279.95 and Rs. 265.00 respectively. The current market cap of the company is Rs. 25508.26 crore.

The promoters holding in the company stood at 99.59% while Institutions and Non-Institutions held 0.04% and 0.37% respectively.

In a bid to part-finance its expansion activities, State-owned Hindustan Copper is planning to raise $250 million through external commercial borrowings (ECB) route in the current quarter. As per its expansion plan, Hindustan Copper will be investing over Rs 3,000 crore on eight projects across the country to increase its production.

The company, which has projected a production of 3.45 million tonnes of copper in 2011-12, has set an ambitious target of producing 12.41 million tonnes of red metal by 2016-17.

The company is currently sitting at cash reserves of about Rs 550 crore and is on the disinvestment radar of the government in the current fiscal.

Hindustan Copper’s principal activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.

Hindustan Copper Share Price

569.60 5.90 (1.05%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco 1038.95
Vedanta 787.60
Hindustan Zinc 592.35
Jain Resource Recycl 420.90
Gravita India 1639.80
View more..

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