Page 9 - Hindustan Zinc

Ex-BofA veteran overseeing Vedanta Group's restructuring steps down

Davis, who was named as president for strategy at Vedanta Resources Ltd. last year, was working closely with the group's lenders and shareholders

Govt rejects Hindustan Zinc's plans to split company into different units

Vedanta has a 64.9% stake in Hindustan Zinc

Vedanta group's Hindustan Zinc forays into strategic mineral exploration

Vedanta group firm Hindustan Zinc on Tuesday announced the formation of new subsidiary Hindmetal Exploration Services Pvt Ltd. The development aims at the company's foray into strategic mineral exploration and diversification of its portfolio. "In line with our vision and with our strategic exploration objective to upgrade Ore Reserves and Mineral Resources (R&R), the company has incorporated Hindmetal Exploration Services Private Limited, a wholly owned subsidiary of Hindustan Zinc Ltd, with an objective to explore, discover, develop and tap mineral resources," Hindustan Zinc said in a regulatory filing. The arm was incorporated on Monday, it said. In the last decade, the Centre has introduced significant transformational reforms to open up the mineral sector to ensure its contribution to achieving the national policy goals and also allowed private sector participation in the exploration and mining of critical minerals which were earlier mined only by government companies, it ...

India aims to raise up to $2.4 bn selling stakes in state-run firms

Modi's ambition of privatising state-run firms has taken a back seat due to impending elections, but his government has delivered more stake sales than any previous administration

Stocks to Watch today: Zee, Cipla, MRPL, Axis Bank, Medi Assist, JSW Group

Stocks to watch on Tuesday, January 23, 2024: Zee Entertainment in focus as Sony India calls-off merger; Axis Bank, Havells, JSW Energy, L&T Housing Finance, RECL and Tata Elxsi to Q3 results today.

Silver shines for Hindustan Zinc in Q3; govt's green push may raise demand

In Q3FY24, silver-related sales for HZL were up 44 per cent from a year ago. Profit from this segment also witnessed a fillip, up by almost 50 per cent

Hindustan Zinc Q3FY24 results: Net profit down 6% at Rs 2,028 crore

For Q3FY24, Hindustan Zinc reported a consolidated net profit of Rs 2,028 crore, down 6 per cent from a year ago

Hindustan Zinc Q3 net profit falls to Rs 2,028 cr dragged by lower income

Hindustan Zinc Ltd (HZL) on Friday posted a 6 per cent decline in consolidated net profit to Rs 2,028 crore during the quarter ended December 2023, dragged by lower income. It had clocked Rs 2,156 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. On a quarter-on-quarter basis, the profit grew 17 per cent as against Rs 1,729 crore in the July-September quarter. During the quarter under review, the company's total income reduced to Rs 7,606 crore from Rs 8,214 crore a year ago. Its expenses were Rs 4,937 crore as against Rs 5,028 crore in the year-ago period. Hindustan Zinc is the world's second largest integrated zinc producer and fifth largest silver producer. The Udaipur-based company holds about 80 per cent of the growing zinc market in the country.

Debt-laden Vedanta cut to selective default by S&P after debt extension

The junk-rated miner said last week its bondholders approved the changes after months of talks to tackle more than $3 bn of bonds maturing in 2024 and 2025

Hindustan Zinc receives GST notice worth Rs 12.7 cr; company to file appeal

The board of Hindustan Zinc is scheduled to meet on January 19 to approve and announce the financial results for the October-December quarter

Mined metal production of Hindustan Zinc rises 7% in Oct-Dec quarter

Vedanta group firm Hindustan Zinc on Tuesday said its mined metal output has registered a rise of 7 per cent to 2,72,000 tonnes in the December quarter on the back of improved mined metal grades and higher ore production. The refined metal production in the third quarter increased 1 per cent to 2,59,000 tonnes over 2,57,000 tonnes in the year-ago period. "Refined lead production was at 56,000 tonnes, up 21 per cent YoY on account of pyro operations on lead mode to maximise silver production," the company said in a statement. The saleable silver production was 6.3 million ounce, up 22 per cent YoY in line with lead metal output. Wind power generation in the third quarter of the current fiscal was 55 Million Units (MU), up 11 per cent from the last fiscal. Hindustan Zinc -- headquartered in Udaipur, Rajasthan -- is an integrated producer of zinc, lead, and silver.

Vedanta's Hindustan Zinc to give interim dividend worth Rs 2,535 crore

Earlier in July, Hindustan Zinc had announced its first interim dividend of Rs 7 per share

Hindustan Zinc expected to have stable performance in coming quarters: CEO

Vedanta group firm Hindustan Zinc CEO Arun Misra has said the company is likely to deliver a stable performance in the coming quarters on the back of the government's thrust on expenditure on infrastructure and expectations of sustained growth in the country. Notwithstanding the prevailing global uncertainty and the related challenges, projections on zinc demand in the country are promising, he said. "There is an optimism of continued stable performance from the company in the coming quarters," Hindustan Zinc CEO Arun Misra said. Estimates suggest further decline in global economic growth this year to 2.8 per cent from 3.4 per cent last year, he added. The company, he said in the company's Integrated Annual Report 2022-23, is ideally placed to harness the strong demand and emerging growth opportunities, led by the Indian growth story. "We look forward to many more operational, financial and sustainability-led milestones and celebrations in the year ahead," he added. He said goin

Vedanta group firm Hindustan Zinc partners with Inland EV Green Services

Vedanta group firm Hindustan Zinc on Monday said it has partnered with Inland EV Green Services for deployment of 10 electric vehicle trucks. The move aims at reducing carbon emissions and promote cleaner modes of transportation. Dedicated to the inter-operations transport of concentrates, these eco-friendly trucks reaffirms the company's commitment to green and sustainable practices, it said. These trucks have a charging capacity of 20 to 100 per cent in just 90 minutes, the company added. "Our collaboration with Inland EV Green Services Pvt Ltd represents a significant step forward in our decarbonisation journey," Hindustan Zinc CEO Arun Misra said.

HZL will need approval to create separate business entities: Govt

In a meeting held on September 29, HZL's board had asked the company to explore corporate restructuring and create three separate legal entities for Zinc and lead, silver, and recycling biz

Govt may space out stake sale in Hindustan Zinc for 'best possible options'

Earlier this year, Hindustan Zinc said it could create separate legal entities for its zinc and lead, silver, and recycling businesses to help capitalise on 'distinct market positions'

Vedanta-promoted Hindustan Zinc bets on industrial e-waste recycling

In September, Hindustan Zinc announced it would consider possible options for a separation of its business units into zinc, lead and silver, and recycling

Hindustan Zinc Q2FY24 results: Net profit falls 35% to Rs 1,729 crore

Ebitda for the quarter, the company said, was at Rs 3,122 crore, down 28.8 per cent Y-o-Y

Hindustan Zinc engages advisory firm for study on its plans to spin off biz

Vedanta group firm Hindustan Zinc has engaged a leading advisory firm to study its plans of spinning off business into three separate entities to increase its market capitalisation. Without divulging the name of the advisory firm, Hindustan Zinc Ltd Chief Executive Officer (CEO) Arun Misra said it will submit the report in six to eight weeks, based on which the company will take its next step. In a telephonic interview to PTI, Misra said the current market cap of the company is USD 16 billion but he believes HZL deserves a valuation of USD 25-30 billion. "Perhaps we are unable to expose the full value of Hindustan Zinc because everything is branded under one entity," he said. "We believe if there are three companies -- one dedicated to the cause of silver, one to zinc and lead and one to all kinds of recycling... the three together will have a much higher market cap compared to what one company has," he said. Last month, HZL had said the company's board has decided to undertake a

Hindustan Zinc Q2FY24 result: Consolidated profit drops 35% to Rs 1,729 cr

The revenue from operations for Q2FY24 came in at Rs 6,619 crore, compared to Rs 8,127 crore year-on-year