Preparing to take on gold, copper closes in at $10k, keep an eye on these stocks now

New Delhi. Copper prices have risen sharply. Amid expectations of increased industrial demand worldwide, copper prices have touched $10,000 per tonne for the first time. Not just copper, demand for many metals has increased and hence their prices are also moving upwards. Due to the increase in the price of copper, there is also a possibility of an increase in the prices of many electronic items. Copper is used in many electronic products like ACs and refrigerators.

On Monday, the price of copper had reached 9970 dollars per tonne. Metals rallied after Federal Reserve Chairman Jerome Powell hinted at a longer delay in rate cuts. So copper is also going up. On the other hand, manufacturing activities have improved from the US to China. This is one of the major reasons for the rise in metal prices. If copper prices continue to rise, companies will eventually pass the burden on to consumers. However, there is also a good thing in this. Shares of related listed companies may rise after copper price increases. We will tell you about 5 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. At the time of writing, shares of Hindalco are trading at Rs 620, up 0.85 percent on the NSE. The stock has gained 48% in the last one year.

India Copper
It is a public sector company under the Ministry of Mines. It is the first copper producer with mines, factories and other facilities directly connected to each other. Its stock is trading up 3.80 percent at Rs 378 as of writing at around 1 pm. This share has given a profit of 280% in one year.

Madhav Copper
This Madhav group company has its own 4 manufacturing facilities. The company also manufactures transformers, generators, panels and pumps. Shares of the company are trading at Rs 38, up more than 2 percent till press time. This share has increased by more than 30 percent in the last one year.