HINDZINC.NSE Hindustan Zinc Ltd.
368
572.30
43.30
(8.19%)
| Watchers | 368 |
| 52-Wk Low | 284.60 |
| 52-Wk High | 540.95 |
| Market Cap | 2.22T |
| Volume | 25.34M |
| 52-Wk High | 540.95 |
| 52-Wk Low | 284.60 |
Hindustan Zinc stock soars 11% to 52-week high as positive China data lifts zinc pricesMoneycontrol • 4 days ago
China's positive trade data indicated a rebound in domestic and overseas demand, which works well for zinc prices given that the country is a major consumer and producer of the metal.
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The government, the largest minority shareholder in Hindustan Zinc, owns a 29.54 per cent stake in the company.
VL Kantha Rao, a secretary in the mines ministry told Financial Times that another 20-30 blocks will be up for auction after the completion of the ongoing Lok Sabha elections.
The miner reported a 21 percent drop in fourth-quarter net profit to Rs 2,038 crore from a year earlier on April 19, as zinc prices remained depressed amid supply outpacing demand growth.
Motilal Oswal is bullish on Hindustan Zinc has recommended buy rating on the stock with a target price of Rs 370 in its research report dated April 19, 2024.
HZL's revenue from operations in the reporting quarter stood at Rs 7,285 crore, a 12 percent fall from Rs 8,281 crore posted a year ago
The Indian government is the largest minority shareholder in Hindustan Zinc, owning a 29.54% stake, but was not consulted by the company when it decided to split the firm to create separate entities for its zinc, lead, silver and recycling business, the government source said requesting anonymity.
Hindmetal Exploration Services will look at systematic exploration of all types of mineral deposits and to participate in the auctioning of mining blocks containing critical minerals, said HZL
The company is looking to use its mining expertise to enter the exploration space of critical minerals, Pai tells Moneycontrol.
Zinc COP for the quarter was 15% down as compared to last year, the company is now looking to adopt alternate fuel innovation and increase focus towards operational efficiencies to control the costs.