Hindustan Copper shares climbed as much as 3.6% on Friday. A surge in global copper prices fueled the gains. A weaker U.S. dollar drove the commodity rally by making the metal cheaper for international buyers.
Rising London Metal Exchange (LME) inventories and narrowing price spreads suggest easing supply tightness. These factors may challenge the commodity’s current seven-week winning streak.
The stock broke out above a key resistance level of Rs 550. High trading volumes and positive price action support this technical move. Analysts have set a bullish target price of Rs 655.