Stock to buy for short-term: Anand Rathi expects 19% upside in this PSU multibagger stock. Should you buy?

Stock to buy for short-term: Hindustan Copper share price has been in a corrective mode since September 2024, when the Indian stock market topped out. During this period, Hindustan Copper shares have declined from its peak of ₹350 to the ₹200 mark.

Hindustan Copper shares hit a 52-week low of ₹195.35 apiece on 3 March 2025, dropped 52% from its 52-week high of ₹415.60 apiece hit on 22 May 2024. However, the PSU stock saw a decent upmove after hitting the bottom.

Brokerage firm Anand Rathi believes Hindustan Copper stock has the potential to rally nearly 19% in the short-term, based on technical analysis.

“We are now observing the formation of a higher top and higher bottom, signaling a potential trend reversal. Additionally, there has been a breakout from a major falling channel, supported by a breakout in the daily RSI,” Anand Rathi said in a note.

Stock Recommendation

Anand Rathi advises traders to accumulate Hindustan Copper shares in the range of ₹236 – ₹230, with a stop loss at ₹213, targeting an upside of ₹273 in the coming months. The target price implies an upside potential of nearly 19% from Friday’s closing price. The timeframe for the trade is 1 – 3 months.

Hindustan Copper Stock Price Trend

Hindustan Copper is a state-run vertically integrated copper producing company, engaged in processes right from copper mining to the final stage of converting copper into saleable products.

Hindustan Copper shares have gained just 3.3% in one month, and have declined 8% on a year-to-date (YTD) basis. The PSU stock is down over 15% in three months and more than 30% in the past six months. Hindustan Copper share price has fallen 15% in one year.

However, in the long-term, Hindustan Copper stock price has delivered multibagger returns of 135% in two years and a staggering 900% in five years.

On Friday, Hindustan Copper shares ended 0.88% lower at ₹229.95 apiece on the BSE, with a market capitalisation of more than ₹22,236 crore.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.