Hindustan Copper soared above 18% to hit a record high of ₹751 per share Thursday. The stock has now rallied a staggering 305% from its 52-week low of ₹183.82 touched in April, achieved in just nine months. The stock has risen 44.25% on a year-to-date basis.

The rally pushed the Nifty Metal index to an all-time high of 12,359.05, even as broader market sentiment remained weak, with benchmark indices Sensex and Nifty trading in the red.

Shares of Hindustan Copper have jumped sharply in recent sessions, gaining over 39% in the past three trading days. The surge followed the company’s January 24 announcement that it has emerged as the preferred bidder for the Baghwari-Khirkhori copper and associated mineral block in Madhya Pradesh.

“It is informed that Hindustan Copper Ltd (HCL) had participated in Notice Inviting Tender (NIT) dated 31.10.2025 for ‘Grant of Mining Lease and Composite Licence for Government of Madhya Pradesh’ issued by Directorate of Geology and Mining MP, Government of Madhya Pradesh. The forward e-auction for the grant of Composite Licence for Baghwari-Khirkhori Copper and Associated Mineral Block was successfully concluded on 22.01.2026 (communication received today). Since, HCL had submitted the highest final price offer, it has been declared as the Preferred Bidder for this auction,” the statement read.

Metal stocks on the rise

Analysts noted that the India-EU FTA deal has helped maintain the momentum on metal stocks. “With tariffs eliminated on 90–96% of traded goods, the FTA is structurally positive for India’s export-led sectors such as textiles, apparel, leather, gems & jewellery, marine products, tea, coffee, chemicals, and MSMEs, while also aiding technology inflows, services mobility, and long-term competitiveness,” said Ponmudi R., CEO, Enrich Money.

Meanwhile, silver prices surged to a record high in futures trade on Thursday, breaching the ₹4-lakh-per-kilogram mark, while gold touched a lifetime high on strong investor demand and firm global cues. 

On the Multi Commodity Exchange (MCX), silver futures for March delivery jumped ₹22,090, or 5.73%, to hit an all-time high of ₹4,07,456 per kg. Gold futures also saw sharp buying interest, with the February contract rising ₹14,586, or 8.8%, to a fresh peak of ₹1,80,501 per 10 grams. 

The rally mirrored strong gains in overseas markets. On the Comex, gold futures crossed the crucial $5,600 per ounce level for the first time, with the April contract climbing $286.6, or 5.4%, to a record $5,626.8 per ounce. Comex silver futures also scaled a new high of $119.51 per ounce. 

Hindustan Zinc’s shares rose 1.05% to trade at ₹715.65 as a reaction to the surge in silver prices.