Vedanta subsidiary Hindustan Zinc declares ₹12,000 crore capex plan. Details here

Mint

5 hours ago

The board of Hindustan Zinc on Tuesday, June 17, sanctioned a plan to increase its integrated refined metal capacity by 250 ktpa, in conjunction with corresponding enhancements to mines and mills capacity, with an investment of approximately ₹ 12,000 crore.
In an exchange filing, the company stated that this expansion corresponds with the significant increase in demand anticipated both in India and around the world over the next five years. The completion of the project is projected to take place within a duration of 36 months.
'We are excited to announce this 2x growth project towards doubling our capacity across zinc, lead and silver, which is strategically aligned with the country's expanding economic landscape, increasing demand opportunities and keeping the country self-reliant for Zinc. By closely matching the pace of national growth, we are confident that this will create significant value for our stakeholders and drive long-term success,' said Arun Misra, Chief Executive Officer of the company.
Hindustan Zinc is the largest integrated zinc manufacturer in the world and ranks among the top five silver producers worldwide. The company sells its products to over 40 countries and commands approximately 77% of India's primary zinc market.
For the March quarter of 2025, Hindustan Zinc announced a consolidated net profit of ₹ 3,003 crore, reflecting a 47.3% rise compared to the previous year when the profit was ₹ 2,038 crore.
The company's revenue for the recent January-March quarter grew to ₹ 9,314 crore, up from ₹ 7,822 crore during the same period last year.
Hindustan Zinc share price today slumped over 5% as the stock traded ex-dividend. The company had declared an interim dividend of ₹ 10 apiece.
The stock opened at ₹ 505 apiece on the BSE. Hindustan Zinc share price touched an intraday high of ₹ 506.50 per share, and an intraday low of ₹ 484.90 apiece.
According to Anshul Jain, Head of Research at Lakshmishree Investments, Hindustan Zinc share price broke out of a 104-day-long rounding bottom pattern at 480 and is currently retesting the breakout zone. 'The price action remains constructive, and as long as the stock sustains above 475–480, the pattern remains valid. The immediate target is the 50% retracement of the recent fall, placed around 575. While volumes during the pattern formation were healthy, the absence of strong institutional accumulation suggests a measured upside,' Jain added.