Hindustan Copper Share Price Target 2026: Anand Rathi Sets ‘Buy’ Rating

Hindustan Copper has received a positive “Buy” rating from domestic brokerage Anand Rathi, with a target price of ₹715

Indian brokerage firm Anand Rathi Shares & Stock Brokers released a positive research report on Thursday, June 25, 2026, maintaining a strong “Buy” rating on state-owned mining company Hindustan Copper Limited. The financial institution has set a 12-month target price of ₹715 per share on the metal stock. This target implies a potential upside of approximately 46% from its recent trading low.

This recommendation comes at an opportune time for long-term buyers. Hindustan Copper shares were trading down nearly 2% at around ₹490.30, giving the company a market capitalization of just over ₹48,000 crore. This metal PSU has faced significant difficulties over the past six months, undergoing a correction phase that has seen its market price fall more than 35% from its 52-week high of ₹759.20, recorded in January 2026.

Anand Rathi’s structural optimism stems from Hindustan Copper’s rapid, multi-faceted infrastructure expansion. A key driver is the recent 20-year revenue-sharing contract with Loham Materials to restart, upgrade, and manage the secondary 50,000-tonne Gujarat copper plant. Expected to be fully operational by the third quarter of fiscal 2027, the plant focuses on producing 99.99% LME-grade copper cathode.

This revenue-sharing deal is set up through an incremental tiered structure. For the first 20,000 tonnes of production, Loham Materials will take 2.25% of total revenue. This allocation drops slightly to 2% for volumes between 20,000 and 37,500 tonnes, and further to 1.75% for subsequent volumes. Analysts estimate that, with optimal utilization and at current London Metal Exchange (LME) pricing, this single asset could add an additional ₹110 crore to ₹125 crore to operating profit by fiscal year 2028.

The company is also restarting its conventional mining capacity. Operations have resumed at the BEML-supported and self-managed 0.2 million tonne Kendadih copper mine, with long-term plans to expand capacity to 0.4 million tonnes. The state-owned company is also evaluating the Pathargora block in Jharkhand and the Dikchu block in Sikkim for development. Despite being small, these mines contain rich ore deposits with high average copper grades of 3% to 4%.

Anand Rathi has forecast strong short-term performance, with revenue expected to exceed ₹850 crore in the first quarter of fiscal year 2027. This represents a significant 66% year-on-year growth. This forecast is supported by an expected 30% increase in production volumes, a 25% increase in international LME copper prices, and a 10% decline in the Indian rupee against the US dollar.

The company’s EBITDA margin is expected to reach 48% in the first quarter, generating approximately ₹410 crore despite higher fuel costs. On the structural front, capital expenditure at the Malanjkhand Copper Project (MCP) is progressing smoothly, supported by ₹1,400 crore of project funding. The primary production winder and 3 million tonne concentrator plant are currently being assembled, and the underground shaft is scheduled to be commissioned in April 2029. This long-term push is expected to increase the company’s revenue 3.3 times to ₹10,200 crore between fiscal years 2026 and 2031.