NEW DELHI: Shares of Hindustan Copper advanced as much as 9 per cent in early trade after the company revised basic price of copper cathodes and CC copper rods by up to 2 per cent for the month of October.

The scrip was trading 7.20 per cent up at Rs 62.50 around 9.55 am (IST). Shares of the company opened at Rs 58.95 and touched a high and low of Rs 63.35 and Rs 58.55, respectively, in trade. Benchmark BSE Sensex was up 67 points, or 0.21 per cent, at 31,739 at around the same time.



The stock had hit 52-week high of Rs 74.70 on July 27, 2017 and 52-week low of Rs 50.10 on November 9, 2016.

For the quarter ended June 30, 2017, the company reported net sales of Rs 367.07 crore, up 78.20 per cent, against Rs 205.99 crore in the corresponding quarter last year. The company posted net profit of Rs 10.21 crore during the quarter under review against net loss of Rs 2.88 crore in the same period last year.

On the BSE, 4.12 lakh shares were traded on the counter so far as against the average daily volumes of 1.95 lakh shares in the past two weeks.