Hind Copper - SHP As At 30-9-21, Looks Interesting

Hind Copper Shareholding Pattern (SHP) as at 30-9-21, gives an interesting picture, with float virtually seen having dried up. In Q2, OFS and QIP made this SHP tilt in favour of Inst Investors. Promoter, being GoI, saw its stake falling to 66.14% as at 30-9-21, from 72.76% as at 30-6-21, due to OFS. Inst investors' stake rose from 14.16% to 18.09%, as at 30-9-21.

But interesting part is seen that retail investors also raised their stake from 9.97 % to 12.47%, with share held by them rising from 9.64 cr to 12.07 cr shares, as at 30-9-21. Even retail shareholders rose from 2.41 lakh to 2.84 lakh, with average holding rising from 288 to 425 shares, held by each investor, as at 30-9-21. If retail is having faith in the stock, share is bound to rise faster, as Funds and FPIs will not be able to buy much quantity at the current levels. Thanks to the members here as well, who are having conviction of 12 months or till strategic stake sale by the Govt. happens, on our call. This has already seen stock rising from 110 to 150 in this month.Share closed at 130 on friday, due to weakness seen in commodiy stocks and all round weakness.

Though Funds FPIs and HNIs are holding about 20.68 cr. shares, but of this, LIC is holding 13.86 cr shares. FPIs are just holding 1.03 cr and Funds are holding 2.12 cr shares, which is bound to see desperate buying by both of them now.

Share is bound to move to Rs. 180 by December and Rs. 240 by March 22, as stake sale process may get initiated soon.
Thereafter, if Vedanta is able to acquire the company (which is the most likely), Blue Sky will be the territory for stock. 

(Detailed features of stock is given in Buy call today in LG Section) 

This is not a Buy recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.