Page 12 - Hindustan Zinc

HZL to pay Rs 10,990-crore interim dividend at 1,300% of face value

The Rajasthan-based miner will pay an interim dividend of 26 rupees per share, according to an exchange filing Tuesday

Govt likely to miss divestment target as Hindustan Zinc sale delayed

With the government's offer for sale plans in HZL in limbo, it is unlikely that the disinvestment would happen by March

Vedanta may buy 6% more stake in Hindustan Zinc for Rs 7,900 cr

Govt planning OFS to sell 15% stake by March-end, will lose special rights over company; sources says Vedanta is looking raise about $1 billion from three foreign banks to fund the acquisition

Will be able to raise the targeted $2 billion, says Vedanta Resources

Will be able to raise targeted $2 bn, says company

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Vedanta-Hindustan Zinc deal worry may hit divestment plan for FY23

Centre's opposition to the Vedanta-HZL deal is on account of valuation and the deal being a related-party transaction

Centre to ask HZL to go for share swaps, warrants for $2.98 bn Vedanta deal

On January 19, the board of HZL approved the acquisition of zinc assets of THL Zinc Ventures, a subsidiary of Vedanta Ltd

Vedanta's plan to trim debt hits roadblock as govt opposes Hind Zinc deal

The government has threatened to take legal action to stop Agarwal's Vedanta Group from selling the unit to its subsidiary Hindustan Zinc Ltd., which is around 30% state-owned

Centre opposes Hindustan Zinc's $2.98 billion deal for Vedanta zinc assets

Directors nominated by the government at Hindustan Zinc had dissented to the proposed deal announced on Jan. 19, the letter showed

Hindustan Zinc to talk to mines ministry to acquire Vedanta's assets

Hindustan Zinc is planning to get in touch with the mines ministry to resolve the differences over the acquisition of overseas assets of holding company Vedanta Ltd, Hindustan Zinc CEO Arun Misra said. Valuation of the assets is among several concerns flagged by the government, which holds a 29.54 per cent stake in Hindustan Zinc Ltd (HZL) that was privatised more than two decades ago. The meeting is expected shortly, Misra said. "...we are reading in various newspapers about the comments of various minority shareholders. I have not met anybody personally. Once I meet them and know exactly what is their view then may be I can comment. I won't be able to offer any comment on other's comments which I can't verify personally," Misra told PTI. According to a source, the objections on the proposal were raised by all three government directors in the nine-member HZL board. Misra further said that the "board meeting deliberations by law are also only the output of the board meeting that

Vedanta Resources' liquidity depends on $2 bn fundraising: S&P report

Sustaining after September 2023 would depend on completing one of two key transactions

Govt planning to oppose Hindustan Zinc's proposal to buy Vedanta assets

The plan was pushed through even after government officials refused to approve it, they said, adding the government is trying to nudge Hindustan Zinc to withdraw the proposal

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

Sensex bounces 599 pts from lows, ends 104 pts down; Nifty tops 18,350

CLOSING BELL: Adani Enterprises, TCS, Axis Bank, Reliance Industries, ICICI Bank, IndusInd Bank, Nestle India, Ultratech Cement, SBI, and Infosys helped the frontline indices rebound