Hindustan Zinc shares surged by 20% to an all-time high of ₹743.60 apiece, marking a 133% gain for the year. Market capitalisation crossed ₹3 lakh crore.
The rally in Hindustan Zinc shares was largely attributed to a substantial surge in base metal prices, following China’s announcement of significant, bold measures to revitalise its struggling property sector.
Another key driver has been the surge in silver prices. Spot silver prices hit an 11-year high in the previous trading session, reaching $32.15 per ounce. Silver prices have increased by more than 25% year-to-date, driven by robust investment and industrial demand. Hindustan Zinc Limited, a Vedanta group company, became the third-largest silver producer globally, according to the World Silver Survey 2024 conducted by ‘The Silver Institute’, USA.
This strong increase in metal prices is expected to improve company margins, as the relatively stable production costs juxtaposed with increased selling prices result in higher profits per unit sold.
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