Hindustan Copper is currently trading at Rs. 65.90, up by 1.00 points or 1.54% from its previous closing of Rs. 64.90 on the BSE.
The scrip opened at Rs. 65.45 and has touched a high and low of Rs. 66.90 and Rs. 64.65 respectively. So far 310656 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 110.55 on 07-Nov-2017 and a 52 week low of Rs. 52.60 on 19-Jul-2018.
Last one week high and low of the scrip stood at Rs. 67.40 and Rs. 57.00 respectively. The current market cap of the company is Rs. 6083.31 crore.
The promoters holding in the company stood at 76.05%, while Institutions and Non-Institutions held 14.55% and 9.41% respectively.
Hindustan Copper has received approval from Cabinet for issuance of fresh 13,87,82,700 equity shares to the extent of 15% of paid up equity capital efface value of Rs 5 each by the company through the Qualified Institutions Placement (QIP).
As a result, government shareholding in the company will come down from 76.05% to 66.13%. Further, the paid-up share capital of the company will increase from the present Rs 462.61 crore to Rs 532 crore. The company will use the proceeds of QIP to meet its expansion/CAPEX plan.
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.
