- Hindustan Copper shares surged up to 10% in early trade on Monday
- The stock hit a nearly 16-year high at Rs 513.45, up 8% from Friday
- Copper prices rose 5% overnight, boosting Hind Copper's rally
Metal stocks continued their upwards momentum in trade on Monday, with Hindustan Copper emerging as a notable gainer in trade. After surging up to 10% in early trade, the stock is still trading with sharp gains.
Shares of Hind Copper have hit an almost 16-year high, in continuation with the bullish trend seen in the counter over the past six trading sessions. The stock is currently trading at Rs 513.45, which accounts for gains of almost 8%. This compares to Friday's closing price of Rs 475.
The sharp rally in Hind Copper comes on the back of rising copper prices, with LME Copper rates jumping 5% overnight, continuing its upward momentum.
Photo: NDTV Profit
Copper rates have indeed rallied like a crisis metal in 2025, driven by AI and hardware demand.
Thanks to the relentless rally over the past few trading sessions, shares of Hindustan Copper have reached a relative strength index of 81, which suggests the stock could be in an overbought territory.
On a year-to-date basis, shares of Hind Copper have doubled, in line with global demand for metals such as gold, silver and copper.
Copper Futures Surge To Fresh Record Of On Firm Global TrendsWatch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit.