Hindustan Zinc gains after board to mull fund raising on 10 March'25

Hindustan Zinc added 2.46% to Rs 421.45 after the company's board is scheduled to meet on 10th March 2025, to consider raising funds through non-convertible debentures (NCDs).

In an exchange filing, Hindustan Zinc said, A meeting of the committee of directors of the company is scheduled to be held on Monday, March 10, 2025, inter alia, to consider and evaluate proposals for raising funds through the issue of listed non-convertible debentures on private placement basis, subject to market conditions.

The proposed issuance shall be subject to the borrowing limits of the company and any necessary approvals from stock exchanges and other regulatory/governmental authorities, as may be required.

Hindustan Zinc, a Vedanta Group company, is an integrated producer of zinc, lead and silver. As of March 2024, Vedanta held 64.92% stake in the company.

The companys consolidated net profit jumped 32.1% to Rs 2678 crore on 17.7% increase in net sales to Rs 8,315 crore in Q3 FY25 over Q3 FY24.

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