Why the Massive Surge Now?
Global copper prices rocketed past $13,000 per ton on the London Metal Exchange. Supply crunches from mine outages in Chile and Indonesia, plus crazy demand from EVs and renewables, lit the fuse. A weaker rupee sweetened exports for this Kolkata-based PSU. Shares jumped 48% in a week – yeah, you read that right. But will it last? Prices cooled a tad today.
Market cap sits around ₹47,000 crore.
P/E ratio? A whopping 82x, way above the non-ferrous metals industry average of 17x.
Dividend yield's a modest 0.3%, debt-to-equity super low at 0.06 – almost debt-free, love that.
ROE shines at 18-19%, cash from operations hit ₹544 crore last year.
Profit grew 58% YoY to ₹469 crore. Strong, but high valuation makes me scratch my head – trading at 15-17x book value.
It's a government baby, born November 1967 under Ministry of Mines. Took over copper projects from National Mineral Development Corporation. Nationalized Indian Copper Corp in 1972. India's only vertically integrated copper player, from mine to metal.
They dig copper ore from spots like Malanjkhand (biggest), Khetri, Surda. Then beneficiate, smelt, refine into cathodes, rods, concentrates, even by-products like sulphuric acid and anode slime with gold bits. Sell domestically, export too. Reserves? About 7 million tons recoverable. Key for India's green push – copper's everywhere in wires, EVs.
Short-term hype aside, 2026 could see ₹400-500 if copper stays hot from energy boom.
By 2030? Analysts eye ₹760-1,000, riding expansions and self-reliance. 2035-2040? Tough call – maybe ₹1,500+ if reserves grow and EVs explode globally. But risks like China demand dips or recessions loom.
These numbers are my wildest guesses. Kindly do your own research or consult with your financial advisor.
