New Delhi: Shares of Hindustan Zinc (HZL) hit their lifetime peak on Monday and climbed more than 10 percent amid a host of positive factors surrounding the firm. The company's market capitalisation (mcap) touched Rs 2.44 lakh crore. With this, the company became the most valued metals and mining firm, ahead of companies like Tata Steel, JSW Steel, and Hindalco.
Shares of the company ended at Rs 578.85, up 9.71 per cent on the BSE. During the day, it rallied 11 per cent to reach the record high of Rs 585.90. At the NSE, it soared 10.19 per cent to Rs 579.10. Intra-day, it hit the lifetime high of Rs 586, up 11.51 per cent.
The company's stock has gained nearly 90 per cent since the start of FY25, with its valuation crossing the crucial Rs 2 lakh crore mark on May 10. Rally in the share was also supported by the global upturn in the commodities cycle.
HZL is now among the top 35 companies on the domestic stock exchange based on market cap, moving up from the 51st rank as on December 31 last year to 34th position now.
The company recently approved an interim dividend of Rs 10 per equity share for FY25, amounting to Rs 4,225.32 crore. The record date for the interim dividend is May 15.
HZL reported a strong operational performance in FY24 results, becoming the world's third largest silver producer, and clocking its highest-ever annual silver production, up 5 per cent year-on-year.
The company also holds the second-largest zinc reserves and resources at a global level, which helped it clock an industry-leading production growth rate and its best-ever annual metal production.
"FY24 has been a year of solid growth for HZL, with mined metal, refined metal, and silver recording its highest historic production levels, supported by a backdrop of fatality-free operations. The company withstood the market headwinds during the year, ensuring preservation of margins and shareholder value," HZL CEO Arun Misra had said, while commenting on the results.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)