It is a Govt of India Enterprise involved in Copper mining. Hence the price of stock is very much linked to underlying commodity pricing, just like Gold.
Consumption of metals like Copper and steel is to some extent dependent on European nations who are big consumers. Just like today when there was some revival in Europe, Hind copper shot up by 15% !!!
99.59% of the company's share is owned by Govt of India, making it likely candidate for disinvestment. But the bottleneck in government, coupled with poor primary market sentiment for FPO/IPO is delaying the public issue.
With face value of Rs.5, Hind copper's PE works out to 61.45
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