MUMBAI (Commodity Online): As copper prices seen edging up on the international commodity bourses, India-based Hindustan Copper Ltd (BOM:513599) posted moderate gains on Bombay Stock Exchange (BSE) on Friday, March 19, 2010.

Copper prices in London climbed, poised for a weekly gain, as a decline in stockpiles signaled demand for the industrial metal may be improving. The three-month delivery contract on the London Metal Exchange increased as much as 0.4% to $7,515 a metric tonne. The contract has gained 0.8% this week.



Hindustan Copper gained over 2% to Rs.526 on BSE at the closing of the trading session on Friday. The stock hit a high of Rs.542.40 and a low of Rs.513.70 so far during the day.

The large-cap stock had outperformed the market in the past one quarter, soaring 93.86% as compared to the Sensex's return of 4.78%. The company's equity capital is Rs 462.61 crore. Face value per share is Rs 5. The current price of Rs 529.40 discounts the company's Q3 December 2009 annualized EPS of Rs 2.19, by a PE multiple of 241.74.

Hindustan Copper reported a net profit of Rs 50.73 crore in Q3 December 2009 compared with a net loss of Rs 69.15 crore in Q3 December 2008. Sales soared 101% to Rs 325.02 crore in Q3 December 2009 over Q3 December 2008.

On the Indian commexes, copper prices remained firm at Rs.342.2 for MCX April contract.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook