Hindustan Copper clarifies on increase in activity on company's shares

Hindustan Copper Ltd has clarified with reference to Increase in Volumes, that the recent increase in traded volumes of Company's shares may be possibly due to increase in copper prices and disinvestment proposal.

Increase in Copper prices - The LME price of Copper in the International market has seen significant improvement in the last week and the price has increased from US Dollar 8100 per tonne levels as on April 23, 2012 to the current levels of US Dollar 8600 per tonne as on April 30, 2012, a jump of about 6%.

Disinvestment of Company's shares - It is understood the Cabinet note for the proposed disinvestment of Government of India's shares in Hindustan Copper Limited has been moved.

Shares of Hindustan Copper Ltd. was trading in BSE at Rs.280.65, down by Rs.10.20 or 3.51%. The stock hit an intraday high of Rs.295.95 and low of Rs.278.50.

The total traded quantity was 7.99 lakhs compared to 2 week average of 1.59 lakhs.

Source : Equity Bulls

Keywords