Page 11 - Hindustan Zinc

Govt to sell some stake in Hindustan Zinc by next month: DIPAM secy

The government is likely to sell a part of its residual stake in Hindustan Zinc Ltd by next month to help it achieve the revised sell-off target of Rs 50,000 crore for the current fiscal, DIPAM Secretary Tuhin Kanta Pandey said on Thursday. For the coming fiscal, the government has lined up strategic stake sales in companies like HLL Lifecare, PDIL, Shipping Corporation and BEML to meet the similar disinvestment target set in the 2023-24 Budget. The government currently holds a 29.54 per cent stake in Hindustan Zinc or HZL. In 2002, it sold 26 per cent of HZL to the mining billionaire Anil Agarwal-led group. Vedanta group later bought 20 per cent from the market and another 18.92 per cent from the government in November 2003, raising its ownership to 64.92 per cent in HZL, which is the world's second-largest integrated Zinc producer and sixth-largest silver producer globally. The government on Wednesday lowered the disinvestment target for the current fiscal (2022-23) to Rs 50,000

Hindustan Zinc to pump in $1 bn to replace diesel-run mining vehicles

Vedanta group firm Hindustan Zinc Ltd on Tuesday said it has earmarked a USD 1 billion investment for converting its diesel-run 900-odd mining vehicles into battery-operated ones over the next five years. Hindustan Zinc is steadily switching to electric vehicles for its underground mine operations. HZL together with the Finnish technology company Normet Group Oy, has inducted battery-powered service equipment and utility vehicles into underground mining to help decarbonise and improve environmental sustainability in the mining industry, the company said in a statement. The aim of the company is to revolutionise underground mining, promote productivity, raise underground safety standards, and provide sustainable operations solutions, Hindustan Zinc CEO Arun Misra said.

Vedanta to sell its foreign zinc assets to Hindustan Zinc for $2.98 bn

Hindustan Zinc's Q3 net profit drops 20% on lower output, prices

Hindustan Zinc Q3 net profit drops 20% to Rs 2,156 cr on higher expenses

Commenting on results, HZL CEO Arun Misra said that the company delivered the best-ever nine months of refined metal mark on the back of the highest mined metal

Hindustan Zinc Q3 mined metal production marginally rises to 254,000 tonnes

Vedanta group firm Hindustan Zinc on Monday said its mined metal output registered a marginal rise of one per cent to 2,54,000 tonnes in the third quarter of the current fiscal. The company's mined metal production was 2,52,000 tonnes in the year-ago period. In a statement, the company said that the mined metal production stood at 254kt in the third quarter of the current fiscal "driven by higher ore production and marginally down QoQ (Quarter-on-Quarter) due to overall mined metal grades." Its refined metal production at 2,57,000 tonnes declined two per cent during the period under review. Hindustan Zinc's integrated zinc production during the third quarter dropped by two per cent to 2,10,000 tonnes. "Refined lead production was at 46kt, down one per cent YoY," it said. Hindustan Zinc is an integrated producer of zinc, lead and silver. The company has its headquarters at Udaipur in Rajasthan where it has its zinc lead mines and smelting complexes.

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Hind Zinc prepares Rs 10,000-cr blueprint for green energy, diversification

Company working on decarbonising operations; to set up fertiliser plant in the next two years, says CEO

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HZL to spend over $1 bn in shift to turn into a green energy user

The Vedanta group firm Hindustan Zinc (HZL), which is the world's second-largest manufacturer of the metal, is planning to invest over USD 1 billion (around Rs 8,270 crore) to convert its diesel-fired mining vehicles into battery-operated ones and also to fully turn a green energy user, over the next five years. The Udaipur-based company, which is also the sole manufacturer of silver and the largest maker of zinc and lead in the country, is already running four of its 900 mining vehicles on battery on a pilot basis. The company with an annual production of 1 million tonne zinc, up from 1 lakh tonne when it was privatized by the government in 2002, also expects stable demand in the March quarter despite the growing fears of a global recession, its chief executive Arun Misra told PTI over the weekend. The government still owns 29 per cent in the cash-rich HZL and has three board members as well. On this, Misra said he recently met the government officials in New Delhi and the full ...

Govt to check foreign fund appetite in Hindustan Zinc before stake dilution

The government will assess the appetite of large foreign funds in Hindustan Zinc before taking a decision on the timing of dilution of its minority equity stake in the Anil Agarwal-owned metal company, an official has said. The government currently holds a 29.54 per cent stake in HZL, while a 5.54 per cent stake is with public shareholders. Mining mogul Anil Agarwal's Vedanta Ltd is the promoter with a 64.92 per cent stake in HZL. The Cabinet Committee on Economic Affairs (CCEA) approved the sale of 124.79 crore shares or 29.54 per cent stake the government holds in the zinc producer. At the current price of Rs 316 a share, a 29.54 per cent stake would fetch about Rs 39,000 crore to the government. The official said since public float is only about 5 per cent, it would not be feasible for big investors, who put in lump sum funds in the company, as share availability in the market is limited. "Merchant bankers will first assess the interest of large fund houses in HZL. Once we get

Govt hopes to meet Rs 65,000 cr FY23 disinvestment goal via offer for sale

DIPAM has so far raised Rs 62,000 crore including dividends of Rs 34,000 crore, says Tuhin Kanta Pandey

India considers selling small stakes in its mammoth coal, zinc miners

The government is looking to sell 5%-10% in Coal India Ltd, Hindustan Zinc Ltd, Rashtriya Chemicals and Fertilizers Ltd via the so-called offer-for-sale mechanism

Hindustan Zinc in top 3 sustainable companies in metal-mining sector

Hindustan Zinc Ranks Among the Top 3 Sustainable Companies Globally in Metal and Mining Sector

Budget 2023-24: Disinvestment target likely to stay elevated for FY24

The sources said that the government expects over Rs 60,000 crore from the IDBI stake sale.

Disinvestment target for FY24 to be at a 'realistic level' of Rs 65K-crore

Centre's receipts from disinvestment till November in FY23 stand at Rs 24,544 crore

Hindustan Zinc eyeing acquisitions in US, Europe in new growth push

Parent Vedanta has zinc assets in Namibia, South Africa and Ireland

Hindustan Zinc Q2 net profit rises 33% to Rs 2,680 crore; revenue up 36%

Shares of Hindustan Zinc were up 0.88 per cent to Rs 280 apiece on the BSE at the close of trade on Friday

Hindustan Zinc Q2 profit up 33% to Rs 2,680 cr, revenue up to Rs 8,127 cr

Vedanta Group firm Hindustan Zinc on Friday reported 32.8 per cent rise in consolidated net profit at Rs 2,680 crore for September quarter 2022-23. The company had posted a net profit of Rs 2,017 crore for the year-ago period, Hindustan Zinc said in a filing to BSE. "Net profit for the quarter was at Rs 2,680 crore...on account of higher zinc volumes and prices, gain from strategic hedging, and favourable exchange rates while being partially offset by the rising input commodity prices and lower lead and silver prices," the company said in a statement. Revenue from operations in July-September period increased to Rs 8,127 crore from Rs 5,958 crore in the year-ago quarter, the filing said. "Our world-class mining assets backed with our zeal for operational excellence has enabled us to deliver consistent results in the toughest of circumstances. We have further accelerated our digitalisation efforts to aid in our business efficiency and safety," Hindustan Zinc CEO Arun Misra said. T

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