Hindustan Copper Ltd today held its 57th Annual General Meeting and approved payment of dividend. Last trading price of Hindustan Copper Ltd shares on BSE is Rs 343.45 per share with gain of 0.90% in trade today. Hindustan Copper shares offered attractive return of 120% in last 1-year and gained 9.29% in last 2-weeks. The Board of Directors of Hindustan Copper Ltd recommended Re 0.92 of the face value of Rs 5/- each. The PSU has a market capitalisation of Rs 33,212.44 crore. Check details below:

Hindustan Copper Approves Dividend: As per the exchange filing of Hindustan Copper dated September 26, 2024, “Board of Directors of Hindustan Copper Ltd in its meeting hetd on 24th May, 2024 had recommended payment of dividend for Financiat Year 2023-24 @ Rs.0.92 per share of the face vatue of Rs.5/- each for approvat of Sharehotders in the Annuat Generat Meeting (AGM). Further to above, it is informed that Sharehotders of the Company at the 57’h AGM hetd today through Video Conferencing /Other Audio-Visual Means have approved payment of dividend as recommended by the Board of Directors, The date of payment of dividend equivalent to 18.40% on paid-up capitat of the Company (i.e. Rs.O.92 per share) is 25’h Octobet,2024.”

Hindustan Copper Shares Performance: The 52-week high price of Hindustan Copper shares on BSE is Rs 415.60 per share (as on 22/05/2024) and 52-week low price is Rs 135.70 per share (as on 26/10/2023), respectively. Hindustan Copper shares jumped 21% in last 6-months, rose 224% in last 2-years, and gained a whopping 820% in last 5-years.

Hindustan Copper Shareholding: FII/FPI have increased holdings from 3.13% to 3.22% in June 2024 quarter. Number of FII/FPI investors increased from 137 to 147 in June 2024 quarter. Mutual Funds have decreased holdings from 5.01% to 2.11% in June 2024 quarter. Number of MF schemes decreased from 24 to 20 in June 2024 quarter. Institutional Investors have decreased holdings from 15.41% to 12.56% in June 2024 quarter. Life insurance corporation of India (LIC) has 6.71% stake in Hindustan Copper, according to Trendlyne.

Should You Buy Hindustan Copper Shares? According to SMC Global Securities, on a longer time frame, Hindustan Copper retraced to test previous peaks formed in January and February this year as support. The current chart pattern and technical indicators indicate that Hindustan Copper is poised for potential further price rally. Therefore, investors can consider buying Hindustan Copper shares within the 330-335 range, with an upside target of Rs 375-380. The analyst has suggested to keep the stop-loss below Rs 310.

About: Hindustan Copper Limited (HCL), a public sector undertaking, incorporated on 9th November 1967, is under the administrative control of the Ministry of Mines, Government of India . It has the distinction of being the nation’s only vertically integrated copper producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of SMC Global Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.

Story first published: Thursday, September 26, 2024, 23:28 [IST]