Hindustan Copper trades higher on the bourses

Hindustan Copper is currently trading at Rs. 67.90, up by 1.30 points or 1.95% from its previous closing of Rs. 66.60 on the BSE.

The scrip opened at Rs. 66.25 and has touched a high and low of Rs. 71.20 and Rs. 66.05 respectively. So far 497337 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 276.50 on 22-Nov-2012 and a 52 week low of Rs. 42.50 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 68.20 and Rs. 63.60 respectively. The current market cap of the company is Rs. 6291.48 crore.

The promoters holding in the company stood at 94.01% while Institutions and Non-Institutions held 4.19% and 1.80% respectively.

Credit rating agency, ICRA has reaffirmed the AA+ rating to Rs 92.50 crore fund based working capital limits of Hindustan Copper. The outlook on rating is ‘stable’. The rating agency has also reaffirmed A1+ rating to Rs 100 crore non-fund based working capital limits of the company.

The reaffirmation of the ratings take into account the status of the company as the only integrated copper producer in India, with access to large reserves of copper ore in the country, the healthy financial position of the company characterized by healthy profitability and cash accruals, its debt free status and financial flexibility on account of a substantial cash and bank balance and liquid investments.