Hindustan Copper shares surge as copper prices hit record highs
Shares of Hindustan Copper have continued their strong upward momentum, tracking a sharp rally in copper prices across domestic and global markets. The stock climbed as much as 5.93% to touch a fresh 52-week high of ₹432 on the National Stock Exchange (NSE) on Wednesday, December 24. On the BSE, the stock extended gains for a third consecutive session, reaching a new one-year high of ₹431.90.
Over the past three trading sessions, Hindustan Copper shares have rallied nearly 11.5%, according to exchange data, driven by surging copper prices and tightening global supply conditions.
Copper prices have been on a strong upswing. On the Multi Commodity Exchange (MCX), December delivery copper futures rose 1.06% to a record ₹1,152 per kg. Meanwhile, Comex copper futures climbed to an intraday high of $5.61 per pound, reflecting sustained bullish sentiment in international markets.
Investor interest in Hindustan Copper has intensified as copper prices have surged nearly 49% year-to-date, touching an all-time high of $5.95 per pound, largely due to global supply disruptions.
According to a recent report by global investment bank JPMorgan, copper prices could rise further, potentially reaching $12,500 per metric tonne in the second half of 2026, with an average price of $12,075 per tonne projected for the full year. The bank attributed the outlook to a sharply tightening copper market amid severe supply constraints.
JPMorgan highlighted multiple production setbacks, including a fatal mudslide at Indonesia’s Grasberg mine, the world’s second-largest copper mine. The incident triggered a force majeure, with the Grasberg Block Cave—responsible for nearly 70% of expected output—likely to remain shut until the second quarter of 2026. Additionally, production forecasts at Chile’s Quebrada Blanca mine have been downgraded due to operational challenges, further straining global supply.
The report also noted ongoing disruptions in copper inventories. While the US accumulated significant copper reserves earlier this year, concerns over potential Section 232 tariffs on refined copper have kept US prices trading at a premium to the London Metal Exchange (LME). JPMorgan further suggested that stronger demand from China could significantly alter market dynamics, adding that the current rally differs from past cycles where Chinese demand weakened and encouraged exports.
Strong Q2 performance boosts sentiment
Adding to investor optimism, Hindustan Copper reported a robust financial performance in the second quarter of FY26. The company posted an 81% year-on-year jump in consolidated net profit to ₹183.79 crore, compared with ₹101.67 crore in the same period last year.
Revenue from operations rose 38.6% YoY to ₹718.04 crore in Q2FY26, up from ₹518.19 crore in Q2FY25. Operating performance also strengthened, with EBITDA climbing 86% YoY to ₹282 crore. The company’s EBITDA margin expanded sharply by 1,000 basis points to 39.3%, compared with 29.3% a year earlier.
At around 9:41 am, Hindustan Copper shares were trading 4.18% higher, outperforming the NIFTY Metal index, which was up 0.53%.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers are advised to consult a qualified financial advisor before making any investment decisions.
