Today, the state-run Hindustan Copper announced its result for Q2FY17. The company reported an 11.8 percent decline in standalone net profit after tax at Rs 6.7 crore for the quarter ended September 30. The company had posted a standalone net profit after tax of Rs 7.6 crore in the corresponding quarter of the previous financial year.

On the declining net profit in Q2 results, Hindustan Copper share price declined 3.49% on the NSE today and traded at the intraday low of Rs. 60.70.

The standalone total income of the company during July-September quarter slipped to Rs 213.7 crore as against Rs 238.5 crore in the corresponding quarter last financial year. Hindustan Copper Ltd manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products. HCL’s mines and plants are extended across four operating units, one each in Rajasthan, Madhya Pradesh, Jharkhand and Maharashtra.

Hindustan Copper share price closed at Rs. 61.25 and was last traded at Rs. 61.05, down by almost 3%. A total of over fifteen lakh shares were traded at the counter as compared to the twenty day trading average of ten lakh shares.

Hindustan Copper’s main activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.

Hindustan Copper share price opened at Rs. 64.10 and has touched a high and low of Rs. 64.50. The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 73.80 on 22-Aug-2016 and a 52 week low of Rs. 42.00 on 19-Feb-2016.

The promoters holding in the company stood at 82.95%, while Institutions and Non-Institutions held 7.94% and 9.11% respectively. Hindustan copper is the top 500 shares recommendation by Dynamic Levels for the quarter. For the details on the stocks, visit the Hindustan copper share price history page of Dynamic Levels website.

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