Hindustan Copper gains on executing MoU with Rites
Hindustan Copper is currently trading at Rs. 258.70, up by 2.75 points or 1.07% from its previous closing of Rs. 255.95 on the BSE.
The scrip opened at Rs. 259.00 and has touched a high and low of Rs. 261.05 and Rs. 256.50 respectively. So far 151615 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 352.60 on 30-Sep-2024 and a 52 week low of Rs. 183.90 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 261.60 and Rs. 243.00 respectively. The current market cap of the company is Rs. 25016.91 crore.
The promoters holding in the company stood at 66.14%, while Institutions and Non-Institutions held 11.85% and 22.01% respectively.
Hindustan Copper has executed an Memorandum of Understanding (MoU) with Rites to secure a rapid, reliable and sustainable supply chain of metals and minerals, including critical minerals. The main objective of this MoU is to jointly participate in copper, critical minerals block auctions, develop and operationalise blocks for exploration and mining, and transportation and share associated risks. Both the parties shall finalize financial arrangements on case-to-case basis, while taking up various projects. This MoU does not constitute a binding relationship between the parties as per the conditions set-out in the MoU.
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.
