Hindustan Copper shares rally 18% in 5 sessions, up 44% this month; here's why

Hindustan Copper shares continued their upward momentum for the fifth straight session on Thursday, rising as much as 7% amid strong volumes. The large-cap stock has gained nearly 18% over the past five sessions, while the state-owned miner has rallied 44% so far in September, driven by sustained buying momentum.

Earlier today, Hindustan Copper shares opened 2.1% higher at ₹314.95 after ending marginally up by 0.29% at ₹308.35 in the previous session. Extending opening gains, the counter surged 7.1% to hit an intraday high of ₹330.40 on the BSE, while its market capitalisation climbed to ₹31,680 crore.

On the volume front, 26.4 lakh shares changed hands compared to a two-week average of 11.27 lakh.

Hindustan Copper’s share price touched a 52-week high of ₹352.60 on September 30, 2024, while its 52-week low stood at ₹183.90 on April 7, 2025. The stock has rebounded nearly 80% in the past five months from its low.

What is fuelling the rally in Hindustan Copper shares?

The recent rally in Hindustan Copper shares was supported by a sharp rise in copper prices amid concerns over supply issues. Benchmark three-month copper on the London Metal Exchange (LME) surged 3.9% to hit a 15-month high of $10,400 per metric tonne as of Wednesday's close.

The recent surge was largely due to Freeport-McMoRan declaring force majeure on output from its Grasberg mine in Indonesia following an accident. “Operations at Indonesia’s Grasberg mine remain impacted by ongoing rescue efforts. Meanwhile, Chile’s state-owned Codelco warned that its El Teniente mine will take longer than expected to return to full production,” Axis Securities said in a report.

At the same time, weaker economic data limited any upside momentum in the red metal, the report noted.

On company-specific developments, Hindustan Copper last week announced that the Rakha mining lease deed was executed between the company and the District Commissioner (DC), Jamshedpur, on September 19, 2025, for an extended period of 20 years.

“This deed is a crucial step towards the reopening and expansion of the Rakha Copper Mine, which holds strategic importance for boosting copper production in the region,” the company noted in a release.

In a separate development, Oil India Limited and Hindustan Copper signed a Memorandum of Understanding (MoU) on September 19 to cooperate and collaborate for the exploration and development of critical and strategic minerals, including copper and associated minerals. The partnership marks a crucial milestone in India's pursuit of self-reliance in critical and strategic minerals, including Copper and associated minerals, Hindustan Copper said in a release.

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