India's Hindustan Copper hits over 13-year high

Jindal Stainless

22/04/2024 09:55

(Adds Nifty metal index in last bullet)
    ** Shares of Hindustan Copper  HCPR.NS  jump as much as 8.2%
to 394 rupees, highest since Nov. 15, 2010
    ** Stock last up 4%, with trading vol 2x the 30-day avg, set
for second consecutive session of gain
    ** Reuters could not immediately ascertain the reason for
stock move
    ** Separately, three-month copper  CMCU3  on the London
Metal Exchange hit a two-year high on Friday  MET/L 
    ** HCPR has been trading above its 100-day and 200-day
moving averages since last May
    ** Stock has jumped 38.3% YTD vs 0.7% and 47.9% rise in
peers Hindalco  HALC.NS  and Vedanta  VDAN.NS , respectively
    ** Nifty metal index  .NIFTYMET  up 0.3% on the day, led by
2.7%-4.7% gains in Hindustan Zinc  HZNC.NS , Jindal Stainless
 JIST.NS  and Welspun  WGSR.NS  as global metal prices rise

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))