This 'share' roared after a big fall, took such a huge leap, removed the poverty of investors in 6 hours!
After the big fall on Wednesday, today the stock market is trading with gains on weekly expiry. The maximum increase of 10 percent is being seen in one share of the Future and Option segment. There was a huge decline in the shares of this government company for the last 3 days and it fell badly in yesterday's selling. But, today again a big rise is being seen in this stock.
Shares of Hindustan Copper have risen by more than 10 percent today. It is a government-owned company engaged in mining of copper ore. Shares of Hindustan Copper rose by 6% to Rs 249 in early trade today. Let us know what happened in a day that this stock showed such a rapid recovery.
Fell 8 percent yesterday, rose 10 percent today
Shares of Hindustan Copper fell by more than 8 percent on Wednesday. Yesterday's closing price was Rs 235. This morning, shares of Hind Copper opened at Rs 242.50 and touched a high of Rs 261 during the trading session. At present Hindustan Copper shares are trading at Rs 260.
Why did this big rise happen?
In fact, due to the rise in copper prices, the trend of decline in the shares of Hindustan Copper stopped. Copper prices rose 3.1% to their highest in 11 months on Wednesday after a meeting in Beijing. In this meeting, officials of at least 15 sugar plants discussed possible measures, including the possibility of production cuts. The sharp rise led to one of the busiest trading days for the London Metal Exchange in years, Bloomberg reports.