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Copper Block Win Fuels Hindustan Copper Surge
28 Jan
Summary
- Hindustan Copper became preferred bidder for a new copper block.
- The acquisition is in Madhya Pradesh, India, via e-auction.
- Stock surged nearly 15% in two recent sessions.
Hindustan Copper shares experienced a significant surge, climbing nearly 15% in two sessions. This rally followed the state-owned miner's announcement that it has emerged as the preferred bidder for the Baghwari-Khirkhori copper and associated mineral block located in Madhya Pradesh. The company secured this designation through a state government e-auction process concluded on January 22, where it submitted the highest final price offer.
The acquisition strategy is aimed at bolstering the company's raw material resources, particularly as global demand for copper continues its upward trajectory. This recent development complements an already impressive six-month performance, during which Hindustan Copper shares have risen by approximately 139%. Analysts attribute this sustained growth to a strong commodity cycle and record-high metal prices.
Technical indicators further support the bullish sentiment surrounding the stock. As of January 28, 2026, Hindustan Copper is trading above all its key simple moving averages, signaling positive momentum across short and long-term charts. The Relative Strength Index is at 63.5, indicating healthy trading activity without being overbought, while the Moving Average Convergence Divergence suggests continued strength with potential for near-term consolidation.
