Shares of Hindustan Zinc surged 4.07% today to close at ₹487.05 on the NSE, gaining ₹19.05 from the previous close of ₹468.00. The sharp uptick in the stock price came as global silver prices soared past $35 per ounce—marking the highest level since October 2012.
The rise in silver prices follows fresh concerns over the US economy. Data released on Wednesday showed a sharp slowdown in private-sector job growth, with the ADP report revealing just 37,000 new jobs in May—the lowest in more than two years. Additionally, the ISM services PMI contracted, indicating economic pressure and rising costs, further worsened by new tariff measures. These indicators led investors to flock to safe-haven assets, driving up prices of precious metals.
Hindustan Zinc, considered one of the few silver plays on Indian exchanges, was a key beneficiary of the rally. The company has significant exposure to silver production, making it a proxy bet for investors seeking to gain from the precious metal’s surge.
At current levels, Hindustan Zinc commands a market capitalization of ₹2.04 lakh crore, with a dividend yield of 7.26% and a P/E ratio of 19.68.
