Hindustan Copper Shares Surge 7% to Record High on Copper Rally, Bolstered by Stellar US GDP Figures

r shares capped a blistering five-session winning streak with a robust 7.05% gain on Wednesday, touching a fresh 52-week peak amid buoyant global copper prices spurred by blockbuster U.S. economic data. The stock opened 2.5% firmer and powered ahead to an intraday high of Rs 439.50 on the NSE before closing at Rs 437, its strongest finish since early 2024. This performance underscores the metal miner's sensitivity to commodity cycles, with higher copper realizations set to enhance profitability in the coming quarters. The momentum gained steam as copper futures held near multi-year highs, trading at $5.49 per pound in late overseas sessions—up 7.27% over the past month and a staggering 34.33% year-to-date—fueled by robust industrial demand from AI infrastructure, green energy transitions, and persistent supply bottlenecks at key mines. Catalyzing the surge was the latest U.S. GDP report, revealing a 4.3% annualized growth rate for the third quarter—the briskest expansion in two years—driven by accelerating consumer spending at 3.5% and a narrower trade deficit alongside export rebounds. A softer dollar and bets on additional Fed rate trims further propped up the red metal, which inversely correlates with the greenback's strength. With Indian markets shuttered today for Christmas, attention shifts to Friday's reopen, where bargain hunters may eye dips in base metals plays. Analysts project Hindustan Copper could test Rs 450 if copper sustains above $5.50, supported by the company's ramped-up production targets and favorable arbitrage opportunities.