Hindustan Copper shines as its board to consider proposal to raise up to Rs 500 crore
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Hindustan Copper is currently trading at Rs. 87.10, up by 1.75 points or 2.05% from its previous closing of Rs. 85.35 on the BSE.
The scrip opened at Rs. 86.50 and has touched a high and low of Rs. 88.10 and Rs. 86.50 respectively. So far 150191 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 159.30 on 19-Oct-2021 and a 52 week low of Rs. 81.20 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 93.00 and Rs. 81.20 respectively. The current market cap of the company is Rs. 8253.55 crore.
The promoters holding in the company stood at 66.14%, while Institutions and Non-Institutions held 16.75% and 17.10% respectively.
Hindustan Copper’s board is all set to consider a proposal to raise up to Rs 500 crore by issuing debentures. A meeting of the board of directors of the company will be held on June 30, 2022 to inter alia, consider and recommend resolutions seeking approval of the shareholders of the company to authorise the board of directors to offer, issue and allot secured or unsecured non-convertible debentures or bonds on a private placement basis up to Rs 500 crore. The board will also consider raising funds through a qualified institutional placement method.
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.
