Hindustan Zinc Ltd (HZL) saw its shares rise by 3.11%, closing at ₹529.55, up from the previous close of ₹513.60 on October 23, 2024. This increase resulted in a market capitalization gain of approximately ₹6,950 crore, bringing the company’s total market cap to ₹2,23,772.89 crore.
Key Financial Highlights
- Stock Price: Rose 3.11%, from ₹513.60 to ₹529.55
- Market Cap: Increased by ₹6,950 crore to ₹2,23,772.89 crore
Hindustan Zinc Ltd (HZL) shares are seeing a rise today, gaining 2.65% and reaching ₹527.20. One of the potential reasons for this surge could be the sharp increase in silver prices. Hindustan Zinc is one of India’s largest producers of zinc, lead, and silver, with silver being a significant by-product of its operations.
Recently, silver futures have surged, touching a high of ₹1,00,012, which is likely to have a positive impact on Hindustan Zinc’s profitability due to the company’s exposure to silver production. The upward momentum in silver prices, reflected in moving averages, supports the company’s earnings outlook, which may explain investor optimism and the rise in the stock price today.
Silver’s 5-day Simple Moving Average (SMA) is ₹92,752.80, while the 20-day SMA at ₹87,659.15 shows how quickly prices have surged, suggesting a bullish trend in the silver market that could further benefit Hindustan Zinc’s financials.
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