Hindustan Copper shares soar 14 percent
By siliconindia   |   Friday, 08 January 2010, 22:18 IST
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Hindustan Copper shares soar 14 percent
Bangalore: The Hindustan Copper stock finished among the top gainers of the day after it ended the day at more than 14 percent above its previous close. Having started the day at 328.30, the stock touched its 52 week high of 373, before closing trade at 360.90, a gain of 14.10 percent from its previous close of 316.30. Through the day, 1,415,941 Hindustan Copper shares were traded in the market. The 52 week stock price chart is on the left. Hindustan Copper is engaged in the manufacture and sale of copper. The company markets copper cathodes, copper wire bar, continuous cast copper rod and by-products, such as anode slime (containing gold and silver), copper sulphate and sulphuric acid. During the fiscal year ended March 31, 2009, the company's cathode production was 30,036 tons. In fiscal 2009, the company sold 35,714 tons of refined copper. Recently, it was reported that the Indian government, which has 99.59 percent holding in the company plans to offload 10 percent stake. The government plans to sell as much as $873 million of stock as part of a record sell-off of assets.

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