Buy Hindustan Copper, target price Rs 155: Yes Securities

Yes Securities has buy call on Hindustan Copper with a target price of Rs 155. The current market price of Hindustan Copper is Rs 142.2. Time period given by analyst is Intra Day when Hindustan Copper Ltd. price can reach defined target.

Hindustan Copper Ltd., incorporated in the year 1967, is a Mid Cap company (having a market cap of Rs 13755.92 Crore) operating in Metals - Non Ferrous sector.

Hindustan Copper Ltd. key Products/Revenue Segments include Metals, Others, Other Operating Revenue, Scrap, Anode Slime, Sale of services for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 476.55 Crore, up 70.97 % from last quarter Total Income of Rs 278.73 Crore and up 57.80 % from last year same quarter Total Income of Rs 302.00 Crore. Company reported net profit after tax of Rs 67.53 Crore in latest quarter.

Investment Rationale
Forming a series of ascending tops and bottoms, the stock has been trending up for the past couple of months. The appearance of multiple bullish candles with a close above level of 140 ensures a shift of range on the upside. Sustenance above 140 is likely to unlock further upside potential till 155.

Promoter/FII Holdings
Promoters held 66.14 per cent stake in the company as of 31-Dec-2021, while FIIs owned 0.26 per cent, DIIs 16.81 per cent.