Hindustan Zinc Stock Hits All-Time High, Company Worth Over ₹3 Lakh Crore
Shares of Hindustan Zinc soared to an all-time high in today’s intraday session, reaching ₹743.60 apiece and locking in a 20% upper circuit limit. This impressive rally has driven the stock’s gains to 133% for the year so far, marking its biggest annual gain since 2009 when it delivered a remarkable 257% return.
The company’s market capitalization crossed the ₹3 lakh crore mark for the first time, hitting ₹3.13 lakh crore. In a significant surge, the market capitalization has increased by over ₹1.79 lakh crore, a 57% addition in CY24 alone.
The surge in Hindustan Zinc shares can be attributed to a substantial increase in base metal prices, following China’s announcement of bold measures to revitalize its struggling property sector. Investor optimism also rose after industrial output in China jumped in April, beating analysts’ estimates, and the country’s export data showed strong growth, boosting global demand recovery sentiment.
Furthermore, zinc, lead, aluminum, and copper prices have sharply risen in recent sessions, continuing a bull momentum that began in mid-February. Copper reached a record high, while silver prices have surged, both globally and domestically.
Hindustan Zinc, a Vedanta Group subsidiary, specializes in the exploration, mining, and smelting of zinc, lead, and other non-ferrous metals. With a positive outlook for the company, analysts anticipate a turnaround in Q1 FY25 driven by a robust rally in zinc and silver prices. Investors are advised to consult with experts before making any investment decisions.
