Buy Hindustan Copper, target price Rs 76: Yes Securities

Buy Hindustan Copper, target price Rs 76:  Yes Securities

Yes Securities has buy call on Hindustan Copper with a target price of Rs 76. The current market price of Hindustan Copper Ltd. is Rs 65.85.

Hindustan Copper Ltd., incorporated in the year 1967, is a Mid Cap company (having a market cap of Rs 6111.06 Crore) operating in Metals – Non Ferrous sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 294.67 Crore, down 31.70 % from last quarter Sales of Rs 431.43 Crore and up 2.44 % from last year same quarter Sales of Rs 287.65 Crore Company reported net profit after tax of Rs 9.12 Crore in latest quarter.

Investment Rationale
The stock stood out strongly in the Nov-Dec month and this month, it is consolidating at upper band holding ground above important averages. Recent consolidation seems to be in a mature phase and positive follow through could resume the uptrend.

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