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highlights
Copper is used in many electronic products.
Due to increase in copper rates, the rates of these products may also increase.
There is a possibility of increase in rates of many cable manufacturing companies.
New Delhi. There is a sharp rise in the prices of copper. Amid expectations of increase in industrial demand worldwide, the price of copper has reached close to $ 10,000 per tonne for the first time. Not only copper, demand for many metals has increased and hence their prices are also going upward. Due to increase in the price of copper, the possibility of increase in rates of many electronic items has also increased. Copper is used in many electronic products like AC and refrigerator.
On Monday, the price of copper had reached $ 9970 per ton. Metals are seeing a rise after Federal Reserve Chairman Jerome Powell expressed the possibility of postponing the rate cut for a longer time. Therefore copper is also going upwards. On the other hand, there is improvement in manufacturing activity from US to China. This is a major reason for the rise in metal prices. If the price of copper continues to rise, the companies will ultimately pass the burden on to the customers. However, there is a good thing in this also. After the increase in the rate of copper, the shares of listed companies related to it may also rise. We will tell you about 5 such stocks whose prices are expected to rise.
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Hindalco
Hindalco is one of the largest copper manufacturers in India. It is a unit of Aditya Birla Group. Till the time of writing the news, Hindalco shares are trading at Rs 620 on NSE with an increase of 0.85 percent. This stock has risen 48 percent in the last one year.
Hindustan Copper
It is a public sector company which comes under the Ministry of Mines. It is the first copper producer whose mines, factories and other facilities are directly connected to each other. Its stock is trading at Rs 378 with a rise of 3.80 percent till the time of writing around 1 pm. This share has given a return of 280 percent in one year.
Madhav Copper
This company of Madhav Group has its own 4 manufacturing facilities. This company also manufactures transformers, generators, panels and pumps. Till the time of writing this news, the shares of this company are trading at Rs 38 with a rise of more than 2 percent. This share has increased by more than 30 percent in the last one year.
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first published : April 22, 2024, 1:25 pm IST
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