Hindustan Copper shares take a hit as copper prices slide
Business
Hindustan Copper's stock dropped 4.6% to ₹525.20 on Thursday, capping a two-day fall of over 7%.
This comes after a strong rally since November, with the stock recently brushing its 52-week high.
The dip closely mirrors falling global copper prices.
Why does this matter?
The stock is trading at steep valuations—its P/E ratio is nearly 94—which means there's more risk if earnings or copper prices keep sliding.
Still, big investors like FIIs have actually increased their stake lately, showing they see potential even with all the ups and downs.
What's behind the drop?
Copper prices on the London Metal Exchange just slipped by 2.5% to $12,899 per ton after hitting recent highs.
This triggered some profit-taking in stocks like Hindustan Copper that had been on a hot streak.