Hindustan Copper Shares hits all-time 52-week high with surge over 16% amid sharp rise in copper prices

The shares of leading metal stock, the Mini-Ratna PSU Hindustan Copper Ltd has zoomed over by 17% to hit a fresh high of 52-week in the early trade of Thursday session. This surge has consequent to the price rising of copper metal with a sharp upliftment of 7%. This rise has been noted since the fifth day of trading session with a surge of 36% in the past five to six days. The metal stock has today opened at Rs 662.50 and reaches to an intraday high of Rs 745.00 which is ultimately leading to 52-week high. Meanwhile, the trading volumes remains higher than usual on both exchanges.

The significant rise of the stock has been touted because of the copper price spike around 7% in the international market to $13,967 per ton on the London Metal Exchange. The stock has been witnessing a continuous surge in the current timeline. On the Multi-Commodity Exchange platform, the copper prices hit to a fresh high of Rs 1432.35 per kg, up by 8.4%. The growing demand of data centres, robotics, and power infrastructure vital for the electrification process, power grids, sockets, wiring, cable, and forming certain alloys like brass and bronze.

The magnificent influence global reasons like sinking US Dollar, rising demand for real, physical assets, and advancing geopolitics tensions amid volatile policies of US Administration have also led to the flexibilities and resilience in the commodities retail structure.