Hindustan Copper Plans To Raise Funds Stock Soars Over 6%

Hindustan Copper on Thursday’s morning session surged over 6% on the BSE. It is trading at Rs 70.80 per share, up by 6.07% at 10:07 hours IST. It also witnessed a spurt in the volume by more than 8.01 times.

The board of the company in its meeting held on May 17, 2017, has recommended issue of fresh equity shares to the extent of 9,25,21,800 (10% of existing paid-up equity capital. It will be done through Further Public Offer (FPO) or Institutional Placement Programme (IPP) or Qualified Institutional Placement (QIP) or a combination of these, as per BSE filing.

The board has also recommended a dividend of Rs 0.20 per share of the face value of Rs 5 each for the financial year 2016-17, subject to approval of the shareholders, as per BSE filing.

Hindustan Copper Limited is engaged in exploration, exploitation, mining of copper and copper ore, including beneficiation of minerals, smelting and refining.

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