Hind Zinc reaps metal price hike

DALAL STREET SPIKES

Hindustan Zinc jumped over 8 per cent from Rs 619.50 to Rs 669.25 with over 4 lakh shares traded on the counter. The surge followed an upward revision of 4.2 per cent in zinc prices by the company on February 24. Just about a week back, the company had increased its zinc prices by about 6 per cent.

However, the company had reported strong results because of its improved price realisations . Further, zinc prices are expected to recover globally.

The company has been in the news as CCEA referred the issue of the sale of government's 30 per cent stake in Hindustan Zinc to a Group of Ministers for a final decision.