This PSU Stock Rallied 10% On Ambitious ₹2,000 Crore Capex Plan

Shares of Hindustan Copper surged more than 10% in afternoon trade on Friday, making it the top gainer on the Nifty Metal index.

After market hours on Thursday, the state-owned miner announced an ambitious capital expenditure (capex) plan of ₹2,000 crore over the next five to six years, aiming to boost its mining operations and expand capacity.

Hindustan Copper also announced plans to acquire new copper deposits both within India and overseas, and is pursuing collaborations with Indian public sector undertakings to grow its mining portfolio.

The company has partnered with Chile’s Codelco as it reportedly plans to increase its copper ore production capacity from 3.47 million tons to 12 million tons per annum by 2030/2031. 

Hindustan Copper’s stock is on track to post a third consecutive session of gains and the eighth advance in the past 10 trading days.

Technical Analysis

Hindustan Copper’s stock surge signals renewed buying momentum after months of consolidation, noted SEBI-registered analyst Mayank Singh Chandel.

Technically, the stock had been in a downtrend since May 2024, forming lower highs and lower lows. However, since April 2025, it has shown signs of reversal, with buyers stepping in near support levels, Chandel said.

The sharp bounce today suggests strength, although resistance lies in the ₹281 - ₹286 zone.

He recommends keeping a strict stop loss at ₹225.10, with conservative players waiting for a breakout above resistance, while aggressive traders may enter on minor pullbacks for better risk-reward, the analyst added.  Overall, the structure remains bullish as long as key supports hold.

What Is The Retail Mood?

Retail sentiment on Stocktwits improved to ‘neutral’ from ‘bearish’ in the previous session.

Hindustan Copper stock has gained 11% so far this year.

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