In the Narendra Modi government leadership PSU companies are giving good returns and Hindustan Copper Ltd is another stock which has given great results in the last 5 years. In last five years, it has given 510% returns and 184% returns in one year. However, in month it has given negative returns. The main reason could be decrease in Revenue and net income of the company. At this price Hindustan Copper stock looks overvalued and entering this stock at this level is very risky. Though, the chart movements are positive for the stock indicating new heights. Hindustan Copper is a good quality stock but its valuation is high as compared to its peers.
The Mutual funds have increased their investment in this stock but FIIs have decreased their exposure in it. This company also enjoys a good promoter holding of 66%. Experts' advice to buy this stock only at the dips and they believe that this stock is heading towards 300-330. The good point about the company is that it has gradually reduced the debts. Investors can hope to see 10 to 15% uptrend in this stock but it will be good to accumulate this stock at the lower levels.
Hindustan Copper stock is moving up in charts but it has a strong resistance around 300 marks if it succeeds in breaking it then it can make new levels above 300.
Present Price- 286
Action- Buy at lower prices or in dips
Future Potential- 10 to 15% increase possible if can take risk
Risk Level- high risk
Future potential – 330- 350 (4 to 6 month time frame)
Stop Loss –260
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