Hindustan Copper announces investment plan of Rs 5,000 crores

With the company planning to invest around Rs 5,000 crores over the next four years, the scrip of Hindustan Copper soared by over 2% intraday during Wednesday’s trading session. This investment will help the company make a strategic shift to value-added products. 
 
As per the plan, the company is awaiting approval from the Cabinet Committee on Economic Affairs (CCEA) for setting up a Rs 3,025-crore plant to manufacture copper cathodes using advanced hydro metallurgy technology, as informed by K D Diwan, chairman of Hindustan Copper.
 
He added that around Rs 2,100 crore will be spent on raising the mine capacity from 3.2 million tons per annum (mtpa) to 12 mtpa in the next four years. Also, the company on Wednesday reported that the operation and maintenance of its Surda mine in Jharkhand was re-started on August 21.
 
Meanwhile, the stock was trading higher by 2.46% at Rs 62 per share on the BSE at 1148 hours. It opened at Rs 60.50 per share and attracted a total traded volume of 3,29,369 shares and traded value of Rs 204.77 lakhs on the NSE at 1148 hours. Its 52-week high and low stood at Rs 75 and Rs 49.95 per share, respectively.