Hindustan Zinc gains on incorporating new subsidiary

Hindustan Zinc rose 1.47% to Rs 337.55 after the company announced incorporation of wholly-owned subsidiary company, Hindustan Zinc Alloys, on 17 November 2021.

Hindustan Zinc Alloys will engage "in the business of smelting, melting & casting; metallurgists including beneficiation of minerals, mineral dressing, concentration; manufacture; produce and generally dealing in all metals & their alloys and in particular dealing with zinc and lead metals and concentrates and alloys of all kinds, their products and by products of all kinds and the sale, dealing or other disposition of all such products and by-products, through its state of art facilities and to carry out any other activity/activities incidental in relation to the main object," the company said in a statement.

Hindustan Zinc is an integrated producer of zinc, lead and silver. Net profit of Hindustan Zinc rose 3.97% to Rs 2017 crore on 7.68% rise in net sales to Rs 5958 crore in Q2 September 2021 over Q2 September 2020.

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