Hind Zinc, Hind Copper rally up to 8%, record 52-week highs; here's why

Among other metal shares, GMDC soared 7 per cent, while NALCO gained 4 per cent and was seen trading near its life-time in trades on Friday.

Hindustan Zinc, Hindustan Copper, Nalco shares today

 

Shares of select metal companies were in demand, with Hindustan Zinc and Hindustan Copper rallying up to 8 per cent, hitting their respective 52-week highs on the BSE in Friday’s intra-day deals. In comparison, the BSE Sensex was up 0.5 per cent at 85,240 at 12:32 PM.

 

Hindustan Copper has surged 8 per cent to ₹384.80 in intra-day trade. Thus far in the month of December, the stock has soared 18 per cent.

 

Shares of Hindustan Zinc soared 5 per cent to ₹549.45 on the BSE in intra-day trade. In the past three trading days, the stock has rallied 12 per cent.

 

 

Meanwhile, share price of National Aluminium Company (Nalco) was up 4 per cent and was trading close to its all-time high level of ₹276.25 touched on December 8, 2025.

 

Shares of Gujarat Mineral Development Corporation (GMDC) also moved higher by 7 per cent to ₹529.90. The average trading volumes at the counter more-than-doubled, with a combined 9.55 million equity shares changing hands on the NSE and BSE.

 

What’s driving Hindustan Zinc, Hindustan Copper, GMDC, Nalco share prices?

 

India’s real GDP picked pace to grow 8.2 per cent in the July to September 2025 quarter (Q2FY26) compared with 5.6 per cent for same quarter last year. The number significantly exceeded street expectations of 7.3 per cent growth and is partially helped by lower GDP deflator also. Private consumption growth is gaining traction with a growth of 7.9 per cent in Q2.

 

This robust performance is driven by resilient private consumption, sustained capital expenditure and supportive government policies, collectively providing a constructive demand tailwind for zinc, lead and silver offtake.

 

This favourable commodity momentum plays directly into Hindustan Zinc strength as a leading integrated producer of zinc, lead and silver, the sustained firmness in zinc and lead price continues to support stable profitability in the company’s base metal business, while the ongoing silver rally providing significant upside, particularly as the company advanced its long-term plan to scale silver production from current 700 tons to 1,500 tons through its 2x growth capex initiatives.

 

Looking ahead, the company's management has revised its FY26 refined metal guidance to 1,075 plus/minus 10 thousand tons per annum and silver guidance to 680 tons plus/minus 10 tons per annum, considering lower plant availability and lower silver input during the first half of the year.

 

Meanwhile, Hindustan zinc surged as silver prices crossed $60 per ounce globally, lifted by expectations of US Fed rate cuts and supply tightness. As India’s only listed pure-play silver producer, with the metal contributing 40–45 per cent of earnings before interest and tax (EBIT), the stock remains highly leveraged to price swings, according to a technical analyst at Axis Direct.  ALSO READ | Hindustan Zinc share price rallies 10% in 3 days; should you book profit?

 

Healthy copper prices, negative treatment & refining charges coupled with Hindustan Copper’s improving operating performance are expected to support its earnings in FY26. The sales volume of metal in concentrate (MIC) is also expected to improve in the current fiscal, aided by higher production from the Malanjkhand mine as well as resumption of a few other mines. Consequently, with improved profits and lower total debt position, the leverage and coverage metrics are also expected to remain healthy, ICRA said in its rationale.

 

Indian metals and mining stocks have re-rated in line with the broader markets. Balance sheets are relatively strong as companies have deleveraged and the long-term outlook is bright as the metals intensity of GDP growth remains elevated, given increasing urbanisation and higher spending on infrastructure, housing construction and industrial expansion. India is now the second largest steel-producing country in the world. A large reserve base (bauxite, iron ore, coal and zinc) is an added positive, said analyst at HSBC Global Investment Research in India Metals & Mining report.

 

Meanwhile, GMDC has announced that it has obtained Stage-I Forest Clearance (FC) and Environmental Clearance (EC) for the Baitarni-West Opencast Coal Mine from the Ministry of Environment, Forest and Climate Change (MoEF&CC), Government of India. These clearances mark significant regulatory progress and enable structured advancement of the project, the company said.