The analyst said Hindustan Copper has a strong fundamental edge, being the only vertically integrated copper producer in India

After a steady decline since May 2024, Hindustan Copper’s (HINDCOPPER.NSE) stock seems to be finally showing signs of a turnaround, according to SEBI-registered analyst Mayank Singh Chandel.

Chandel said that the stock recently broke above a key resistance level near ₹255 on the technical charts. It had been in a clear downtrend, marked by lower prices and weak sentiment.

The analyst noted that the breakout was backed by a notable surge in trading volumes, signalling a potential revival in investor interest.

While the stock isn’t surging yet, it is currently holding steady and possibly setting the stage for its next big move, according to the analyst.

Chandel believes the stock is worth tracking, citing strong fundamentals that are likely to be further boosted by the company’s upcoming expansion plans.

Hindustan Copper plans to invest ₹2,000 crore over the next few years to boost its mining capacity, especially at its flagship copper mine in Madhya Pradesh.

The company wants to triple copper production by 2031 and recently posted record performance for FY25, clocking ₹2,071 crore in revenue and ₹469 crore in net profit, underlining its operational strength.

The stock has gained over 15% since the results were announced last month.

The company has also partnered with CODELCO, Chile’s state-owned copper mining company, to adopt smarter, more efficient mining technologies.

With Hindustan Copper being India’s only vertically integrated copper producer, handling the entire chain from mining to refining to sales, the analyst added that it gives the company a strong fundamental edge.

If the fundamentals align with a strong technical breakout, it could signal the beginning of a fresh rally, Chandel stated.

Retail sentiment on Stocktwits remained ‘bullish,’ accompanied by ‘high’ message volumes.

Year-to-date, Hindustan Copper stock has gained over 17% as of Wednesday’s close.

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