Hindustan Zinc gains on good Q2 numbers

Hindustan Zinc rose 3.18% to Rs 164.25 at 15:35 IST on BSE after the company's net profit rose 33.12% to Rs 2183.52 crore on 17.59% rise in total income to Rs 4499.03 crore in Q2 September 2014 over Q2 September 2013.

The company announced Q2 results during market hours today, 20 October 2014.

Meanwhile, the BSE Sensex was up 314.75 points or 1.21% at 26,423.28.

On BSE, so far 2.56 lakh shares were traded in the counter, compared with an average volume of 1.26 lakh shares in the past one quarter.

The stock hit a high of Rs 167.50 and a low of Rs 160.90. The stock hit a record high of Rs 184 on 9 June 2014. The stock hit a 52-week low of Rs 114.80 on 26 February 2014.

The revenue growth was driven by higher zinc LME prices, partly offset by lower volumes and silver prices and rupee appreciation, company said.

The company in its outlook reiterated its guidance of marginal growth in mined metal and silver production in financial year ending 31 March 2015 (FY 2015). Integrated zinc-lead metal production is expected to witness a strong growth in second half of FY 2015 over first half of FY 2015, in sync with mined metal production growth.

As on 30 September 2014, the company had cash and cash equivalents of Rs 27475 crore.

Powered by Capital Market - Live News