Hindustan Copper shares rise 6% to hit 52-week high as copper prices gain on strong US GDP data

Hindustan Copper shares rise to fresh high. 

Hindustan Copper shares rose over 7 percent to hit a fresh 52-week high on Wednesday, tracking firm global copper prices after strong economic data from the US boosted demand outlook for the metal.

The stock opened 2.5 percent higher and climbed 7.04 percent to an intraday high of Rs 436.50 on the NSE. The counter has now gained for five straight sessions.

Copper prices remained close to record highs in overseas markets after data showed the US economy grew at its fastest pace in two years in the third quarter, supported by strong consumer spending and a rebound in exports.

Firm copper prices tend to support shares of producers such as Hindustan Copper, as higher metal prices improve revenue and margin prospects.

The prices were also supported by a weaker US dollar, expectations of further interest rate cuts by the US Federal Reserve, rising demand linked to artificial intelligence and the shift towards renewable energy and supply disruptions at mines.

On the supply side, China’s leading copper smelters are expected to cut production by over 10 percent in 2026 to address overcapacity, according to a Chinese market information provider. This has added to concerns over tighter supply and supported prices.

Life Insurance Corporation of India cut the stake in Hindustan Copper to 4.072 percent from 6.086 percent between August 2024 to December 2025.

(Inputs from Reuters) 

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.