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Espresso shot of the day – Hindustan Copper Ltd up by 18.35 percent

Espresso shot of the day – Hindustan Copper Ltd up by 18.35 percent

February 23, 2021

HINDUSTAN COPPER LTD 116.40 ( 18.35 %)  BSE – INE531E01026 | 23rd FEB 2021


Hindustan Copper Limited (HCL), a public sector undertaking under the administrative control of the Ministry of Mines, was incorporated on 9th November 1967. 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. The Company markets copper cathodes, copper wire bar, continuous cast copper rod and by-products, such as anode slime (containing gold, silver, etc.), copper sulphate and sulphuric acid. In normal practice, more than 90% of the sales revenue is generated from cathode and continuous cast copper rods. HCL’s mines and plants are spread across five operating Units, one each in the States of Rajasthan, Madhya Pradesh, Jharkhand, Maharashtra and Gujarat.

Recent Drivers

  • Hindustan Copper Limited has reported a consolidated net profit of Rs 108.19 crores for the quarter ended December 2020. The company had posted a net loss Rs 95.61 crores in the year-ago period.
  • The consolidated income of Hindustan Copper Limited increased to Rs 546.68 crores in the October -December quarter over Rs 106.48 crores in the year-ago period.
  • Sales of Hindustan Copper Limited rose 477.15% to Rs 538.42 crores in the quarter ended December 2020 as against Rs 93.29 crores during the previous quarter ended December 2019.
  • Today, Hindustan Copper Limited hit a fresh 52-week high of Rs 118 a piece.
  • Executive Chairman of Vedanta Resources Limited, Anil Agarwal, has announced that he has teamed up with London-based firm Centricus to create a $10 billion fund that will invest in the stake sale of public sector companies. The Vedanta chairman had also pitched for the privatisation of Hindustan Copper Limited.
 (Sources: The Economic Times, Business Standard, MoneyControl)

Technical Force*

  • S&P BSE ALL CAP month till date gain up by 8.55%
  • Traded on new 52- week high 118
  • Touched upper circuit today 118
  • Spurt in volume by more than 2.28 times compares to previous vol. 3 months avg qty – 5,792,757
  • Stock price has jumped more than 100% from one year low level – 18.25 24 March 2020
  • Daily RSI (14) is in overbought territory for 4 periods, RSI central line crossed above central line 13 periods ago
  • 52 -week high – 118.00 | 52- week low- 18.30

 Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

128.53

97.92

79.53

48.92

30.53

-

-

-

Fibonacci Pivot

97.92

79.20

67.63

60.19

48.92

37.65

30.20

18.63

-


Today’s Close

116.40

SMA

BSE

10 DAY

83.99

20 DAY

74.87

50 DAY

66.68

200 DAY

42.77

Some Key Ratios (Source: BSE)

Market Cap: 10,769.54 crores

PE:

OPM%: 38.91

ROE%: 

Prev. Close: 98.35

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.