Hindustan Zinc share price target: Shares of Hindustan Zinc Ltd – a Vedanta Subsidiary, have gained 123.03% in the last three months.
Within this, brokerage firm Anand Rathi has given a BUY rating on the stock setting a target price of Rs 890 per share at the current market price of Rs 689.75 per share.
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Hindustan Zinc share price performance
Earlier in May, the company exceeded its market capitalisation mark after a six-day continuous rally, becoming the best-performing stock in the metals segment for 2024. Despite most of its revenue coming from zinc, the stock boomed on a sharp surge in silver prices.
Hindustan Zinc revenue
Hindustan Zinc, India’s sole silver producer, draws its revenue mostly from zinc; nonetheless, the surge in silver prices has improved its share price. This year, the firm produced the most silver in its history, becoming the world’s third largest producer.
Furthermore, silver made up 19% of Hindustan Zinc’s total revenue, with zinc accounting for more than 60%. According to experts, Hindustan Zinc’s silver sales are expected to rise by more than 27% to Rs 6,840 crore in the following fiscal year, or FY25.
Hindustan Zinc Ltd., founded in 1966, is a large-cap company (market capitalization of Rs 290807.58 crore) that operates in the Metals – Non Ferrous industry.
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Hindustan Zinc share price
The stock opened at Rs 690.65 per share and touched an intraday high of Rs 696.50 per share on Thursday. Furthermore, the stock has delivered a return of 106.75% in the last six months and has gained over 120% in the last three months.
Although the stock tumbled by 2.24% in the last one week, it has gained 121.42% in the last one year.
