Hindustan Copper

Hindustan Copper and Vedanta may fall up to 19 per cent due to their weak chart structures.

Hindustan Copper Ltd (HCL) was ramping up copper ore production from the Malanjkhand project in Madhya Pradesh to 2.2 million tonnes from the current 1.6 million tonnes and it will be eventually increased to five million tonnes in the next 6-7 years, a company official said. HCL was targeting to increase its total copper ore production to 12.2 million tonnes per annum by FY'29 in its first phase of expansion from 3.57 million tonnes in FY22 and was targeting 3.9 million tonnes in the current fiscal. The state-owned integrated copper miner said it has lined up Rs 350 crore in capex for the current fiscal and of that, Rs 250 crore would be pumped into the Malanjkhand project. HCL was also awaiting lease renewal from the Jharkhand government to reopen the Rakha mines which was closed in 2001-02 due to operational reasons. "Our capex for the current fiscal is Rs 350 crore and we are expecting to exceed. There is a shortfall in production from Malanjkhand due to difficult terrain, but th

State-owned Hindustan Copper has paid a dividend of Rs 74.20 crore to the Centre for FY'22. "Hindustan Copper... has paid today a dividend of Rs 74.20 crore to the Government of India for FY 2021-22 being 30.01 per cent of Profit After Tax (PAT) in compliance with DIPAM guidelines," the mines ministry said in a statement. Total dividend pay-out to all shareholders was Rs 112.17 crore. The dividend per share was the highest ever declared by the company. During FY'22, the company achieved the highest-ever net turnover of Rs 1,812 crore and Profit Before Tax of Rs 381.76 crore. The company is currently implementing its mine expansion plan to achieve 12.2 million tonnes per annum ore production. Hindustan Copper, a public sector undertaking, is under the administrative control of the mines ministry. It is the country's only vertically integrated copper producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refin

Shareholders of state-owned Hindustan Copper Ltd (HCL) on Wednesday approved a 23.2 per cent dividend for the financial year ended in March 2022. The company would make a total dividend payout of Rs 112.17 crore as approved in the 55th Annual General Meeting, HCL said in a statement. During the meeting, HCL Arun Kumar Shukla said the production from the company's flagship project, Malanjkhand underground mine, has commenced. He also informed that the company has repaid a loan of Rs 729 crore in FY2021-22 from its internal accruals. As the global economy moves toward net zero carbon emissions through the energy transition, the role of copper remains pivotal as the most efficient conductive material, indispensable for capturing, storing and transporting green energy, he said. Hence, a significant rise in demand for copper has been predicted on account of the thrust on a low-carbon economy, he added.

According to the data compiled by Prabhudas Lilladher showed, foreign investors increased their holding in RHI Magnesita India Ltd to 2.2 per cent, as compared to 0.64 per cent as on March 31.

The three promoter companies have promised to plumb in equity in the ratio of 40:30:30

Hindustan Copper CMD Arun Kumar Shukla suggested this to the government at a round-table discussion held during the 6th National Conclave on Mines and Minerals

Hindustan Copper Ltd, under the administrative control of the ministry of mines, is a vertically integrated copper producing company

Stocks to watch today: Adani Enterprises subsidiary raised over Rs 6,000 crore to set up greenfield copper refinery; State-run IOB will boost advances across retail, corporate and MSME loans this year

The board will also consider raising funds through a qualified institutional placement method, it added.

Hindustan Copper said its profitability has improved on account of dynamic marketing policy, effective procurement of services, reduction of loans and rise in LME prices

With Nickel, Gold and wheat also hitting multi-year highs like Crude Oil, these five commodity related shares are likely to witness strong gains, indicate charts.

Nifty Metal shines; Hindustan Copper gains 6%; Godrej Properties, Monte Carlo Fashions slump 10% each; Vedant Fashions IPO subscribed only 11% on day 1

The firm on Tuesday reported a seven-fold rise in consolidated profit after tax

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Agarwal says due diligence is being done and that the company is waiting for date of Hind Copper's privatisation to be announced

State-owned Hindustan Copper is taking requisite actions to increase the output from its mines and is also in the process of augmenting the mining capacity through expansion projects

Offer received bids for 61.5 mn shares worth Rs 713 cr, most coming at an indicative price of Rs 116.12. A total of 96.7 million (10% stake) shares worth Rs 1,122 cr have been put on the block

The government's up to 10 per cent stake sale in Hindustan Copper got off to a good start on Thursday with institutional investors putting in bids of over Rs 700 crore.

RIL, ITC and bank stocks contributed to the gains on benchmarks while metals and IT names languished