📈 Hindustan Zinc Share Price Surges Over 18% to Reach ₹734.30
Shares of Hindustan Zinc have witnessed a rapid increase, currently trading at ₹734.30 with a growth of 18.67%. The stock touched a 52-week high of ₹738.90 during intraday trading. The company’s market cap has now reached ₹3.10 lakh crore.
📊 Company’s Market Cap Reaches ₹3.10 Lakh Crore
With this surge, the company’s market cap has reached ₹3.10 lakh crore. The shares of Hindustan Zinc were trading in the green for the fourth consecutive day, with a 31% increase in the past four days. The rise in metal prices is expected to boost companies’ margins.
💰 Expectation of Increase in Profit Due to Stable Production Costs
Stable production costs and higher selling prices per unit are expected to lead to an increase in sales profit. The recent increase in demand for industrial metals like copper, aluminum, zinc, and lead has boosted demand due to supply concerns and optimistic long-term prospects.
🌍 Global Metal Prices & China’s Measures Boost Trading
The increase in metal prices in 2024, along with China’s recent measures to support its troubled property sector, have also boosted traders’ confidence. The anticipation of a cut in interest rates by the US Federal Reserve has also led to a surge in the metal sector.
📉 Hindustan Zinc Reports 21% Decrease in Net Profit in Q4
Hindustan Zinc’s net profit in the fourth quarter fell by 21% compared to the same quarter last year, reaching ₹2,038 crore. This decline is attributed to a decrease in global zinc prices and a drop in demand relative to supply.
📈 Impressive Returns for Investors in Hindustan Zinc
Investors in Hindustan Zinc have seen significant returns recently, with a 79% increase in the past month, a strong 141% return over the last 6 months, and a 130% increase year-to-date. Over the past year, investors have earned a 137% return, while over the last 4 years, they have gained an impressive 342% return.
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