Page 9 - Hindustan Zinc

Hindustan Zinc plans to create separate entities for its commodities

Hindustan Zinc Ltd said in a statement that it would create different legal entities for its zinc & lead, silver, and recycling businesses

Moody's downgrades Vedanta Resources' corporate family rating to Caa2

Moody's has also downgraded to Caa3 from Caa2 its rating on the senior unsecured bonds issued by VRL

Indian billionaire Anil Agarwal mulls listing Vedanta businesses separately

The plans stand in contrast to Agarwal's attempts in 2020 to delist Vedanta Ltd to expedite the process of simplifying its corporate structure, which failed

Hindustan Zinc will ramp up production of zinc to 1.5 mn tonnes: Chairman

Hindustan Zinc Ltd will ramp up production of zinc - that is used in batteries to medicines - to 1.5 million tonnes, chairperson Priya Agarwal Hebbar said on Thursday as she looked to make India's largest zinc producer as one of the best firms in the world. Speaking at the company's annual shareholders meeting, she said when the economic history of 21st-century India is written, the turnaround story of Hindustan Zinc will have a chapter of its own. Incorporated as a public sector firm in 1996, the Atal Bihari Vajpayee-led NDA government in August 2002 sold a controlling stake in the firm to Vedanta group firm Sterlite Industries for around Rs 769 crore. Hindustan Zinc is today the second largest zinc-lead miner in the world after Swiss firm Glencore and the fourth largest zinc-lead smelter globally. It has now also broken into the top 10 list of silver producers in the world. The profitability has grown manyfold and so has its production capacity of zinc, lead and silver - from 0.2

Hindustan Zinc keen to participate in lithium auctions: CEO Arun Mishra

Hindustan Zinc Ltd (HZL) is keen to acquire lithium assets as and when they are put on the block for auctions, CEO Arun Mishra said. Lithium reserves of about 5.9 million tonnes have been identified in Salal-Haimna areas of Reasi district in Jammu and Kashmir (J&K) for the first time in India. Auctions of the said reserves are likely to be held in December. The J&K administration is also in the process of appointing a transaction advisor. "Absolutely. Why not?" Hindustan Zinc is already in the base metal (sector). Whatever lithium asset will come it will be strategic interest, Mishra told PTI in reply to a question on plans of acquiring lithium reserves. The CEO further said, "As base metals are our (company's) area of interest and lithium being one of them, we look forward to exploring the opportunities as such metals are going to be the future which will drive the new world." Therefore, HZL is open to participate in auctions for the lithium reserves, he added. Lithium is a ..

Hindustan Zinc Q1 results: Net profit down 36.5%, as revenue dips 23% YoY

The operating margin for the company's business also saw a downfall from 48 per cent in Q1FY23 to 35 per cent in Q1FY24

Hind Zinc rallies 8%; board to consider interim dividend for FY24 on July 8

The record date for the eligibility of interim dividend payment, if any, will be Saturday July 15, 2023, Hindustan Zinc said in a filing

Vedanta explores refinancing, brand monetisation for timely debt repayments

To ensure enough funds, Vedanta Limited has increased the percentage of royalty from 2 to 3 per cent beginning this year

Promoters of the group can't dispose of Vedanta shares, says lender

Vedanta stake was pledged from 2020 onwards by the group's promoter Anil Agarwal to raise funds

Stocks to Watch today, May 26: Voda Idea, Hind Zinc, RIL, SAIL, Zee, Emami

Stocks to watch on May 26, 2023: BEML, BHEL, Grasim, M&M, ONGC, Shree Renuka Sugars, Sun Pharma and Wockhardt among prominent companies scheduled to announce Q4 results on Friday.

Anil Agarwal's Vedanta pledges nearly all its HZL stake to raise funds

Fresh loan of $850 million raised from JPMorgan Chase, Oaktree

Anil Agarwal's Vedanta pledges almost its entire stake in Hindustan Zinc

Vedanta created a pledge of 3.3% of its total equity or 13.94 crore shares in favour of Axis Trustee Services on May 23

Anil Agarwal's Vedanta in talks with banks to raise at least $500 million

The group has been depending on money from its units to tackle its debt load, especially after it failed to sell some zinc assets to Hindustan Zinc Ltd for $3 billion

Hindustan Zinc bids to buy assets from Vedanta Group for $2.98 billion

Hindustan Zinc proposal to buy certain zinc assets from Vedanta Group for $2.98 billion in cash has lapsed as the Indian miner did not get shareholders' approval within the stipulated time limit

Hindustan Zinc turns into a net debt firm for first time in 20 years

HZL was sitting on cash and equivalents worth Rs 20,665 crore at the end of FY22

'Very, very comfortable': Anil Agrawal on Vedanta being over-leveraged

Elaborating on the debt repayment plans, he said that Vedanta Resources Limited would repay its obligations through a combination of dividend and royalties

Plans to buy Zinc International is not called off: Hindustan Zinc CEO

Hindustan Zinc CEO Arun Mishra has said that the plans to buy overseas asset from the company's parent firm Vedanta Ltd has not been called off yet. The Chief Executive officer (CEO) made the remarks during an earnings call. When asked about Zinc International's acquisition and whether the plan is still under works, Mishra replied "Unless we the board passes a resolution withdrawing this, till that time, it is not called off." Zinc International acquisition was a great idea, he said, adding the company's board has also approved the proposal. "...we are working on it, and we still believe that this is something that we must do for the sake of Hindustan Zinc. So, we will see where it ends," the CEO said. The government, which owns about 29.54 per cent stake in HZL, has opposed the company's plan to buy overseas asset of its parent firm Vedanta Ltd. The government has opposed Vedanta Ltd's proposal to sell its international zinc business to HZL for USD 2.98 billion over concerns of

RIL, ICICI Bank: Trading outlook for buzzing stocks of the day

Except for Hindustan Zinc, which hit a new historic peak in the Q4, others have remained laggards.

Stocks to watch: RIL, ICICI Bank, YES Bank, Hindustan Zinc, Sun Pharma

Stocks to watch today: From Reliance Industries to ICICI Bank, here are top stocks to watch in Monday's trading session

Hindustan Zinc Q4 results: Net profit falls 12% to Rs 2,583 crore

Hindustan Zinc Ltd (HZL) on Friday reported an 11.78 per cent fall in its consolidated net profit at Rs 2,583 crore for the fourth quarter of 2022-23 on account of higher expenses. The company clocked Rs 2,928 crore net profit in the January-March period of the preceding 2021-22 fiscal, HZL said in a regulatory filing. Its total income also declined to Rs 8,863 crore from Rs 9,074 crore in the year-ago period. The company's expenses stood at Rs 5,358 crore, higher than Rs 4,717 crore a year ago. "The Board on the recommendation of nomination and remuneration committee and audit & risk management Committee had approved the appointment of Sandeep Modi currently Interim CFO as Chief Financial Officer (KMP) of the Company w.e.f. April 21, 2023," the filing said. Vedanta Group company Hindustan Zinc is the world's second-largest integrated zinc producer and fifth-largest silver producer.