Dividend, Fundraising, Results: Miniratna PSU To Meet On May 24, Shares Gain 259% In 1-Yr

Board of Directors of Hindustan Copper Ltd. will hold meeting on May 24, 2024 to consider financial results, dividend, and fundraising, as per its BSE filing. Current market price of Hindustan Copper share on BSE is Rs 366.90 per share with intraday fall of 1.56%. Hindustan Copper shares offered return of 126% in last 6-months and declined over 5% in last 2-weeks. Its market capitalisation is Rs 35,480.11 crore. More details below:

Hindustan Copper To Consider Financial Results, Dividend, and Fundraising: As per BSE filing issued on May 13, 2024, "a meeting of the Board of Directors of Hindustan Copper Ltd (HCL) will be held on Friday, the 24th May, 2024 at 12:00 Noon to, inter alia, consider the following:

(i) Approval of Accounts and Financial Results of HCL (Standalone and Consolidated) for the quarter and year ended on 31st March, 2024;

(ii) Recommendation for seeking approval of shareholders for payment of dividend for FY 2023-24;

(iii) Recommendation for seeking approval of shareholders to raise funds by issue of equity shares through Qualified lnstitutional Placement method to the extent of 9,69,76,680 equity shares of face value of Rs.5/- each of the Company in one or more tranches; and

(iv) Recommendation for seeking approval of shareholders to offer, issue and allot secured or unsecured non-convertible debentures or bonds on private placement basis up to Rs.500 crore."

Hindustan Copper Dividend History: Hindustan Copper announced 12 dividends since November 11, 2010. In last 12 months, Hindustan Copper announced an equity dividend of Re 0.92 per share. At the current share price of Rs 362.25, Hindustan Copper offers a dividend yield of 0.25%.

Hindustan Copper Share Performance: The 52-week high price of Hindustan Copper share on BSE is Rs 401.90 per share (as on 29/04/2024) and 52-week low price is Rs 100.50 apiece (as on 19/05/2023), respectively. Hindustan Copper Ltd shares surged 46% in last 3-months, zoomed 259% in last 1-year, and gained 298% in last 2-years.

Hindustan Copper Achieves New High: As per the regulatory filing of Hindustan Copper dated April 2, 2024, "During FY 2023-24 Hindustan Copper Ltd has achieved MIC (Metat in concentrate) production of 27,404 tonne which is highest in last five years and 11% higher than last year. Similarly, the Company has achieved ore production of 3.78 million tonne in FY 2023-24 which is highest in last four years and 13% higher than last year. Malanjkhand Copper Project at Madhya Pradesh, the flagship Unit of HCL, has achieved 18% higher ore production and 9.4% higher MIC production compared to last year."

Hindustan Copper About: Hindustan Copper Limited (HCL), a public sector undertaking, incorporated on 9th November 1967, is under the administrative control of the Ministry of Mines, Government of India . It has the distinction of being the nation's only vertically integrated copper producing company as it manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into downstream saleable products, according to its official website.

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