Friday, February 23, 2024
Home News Hindustan Zinc surges 5% on announcing liberal interim dividend

Hindustan Zinc surges 5% on announcing liberal interim dividend

 

Shares of Hindustan Zinc climbed 5 per cent to Rs 325.25 in Wednesday’s trade on the BSE after the company declared an interim dividend of Rs 26 per share, a gain of 1,300 per cent on the face value of Rs 2 per share. This is the fourth interim dividend for the financial year 2022-23 amounting to Rs 10,985.83 crore, the company said in an exchange filing.

Hindustan Zinc has fixed March 29, 2023 as the record date for the purpose of payment of fourth interim dividend. The company said that the fourth interim dividend will be paid within the time limit prescribed under the law.

The stock has outperformed the market by jumping 10 per cent in the last one week after the company announced a dividend plan. In comparison, the S&P BSE Sensex was up less than 1 per cent during this period.

Vedanta holds 64.92 per cent equity stake in Hindustan Zinc, while the Government of India holds 29.54 per cent in the company.

Hindustan Zinc’s operations include five zinc-lead mines, four zinc smelters, one lead smelter, one zinc-lead smelter, eight sulfuric acid plants, one silver refinery plant, six captive thermal power plants and four captive solar plants in the state of Rajasthan. .

In addition, Hindustan Zinc also has a rock-phosphate mine at Mattoon near Udaipur in Rajasthan and zinc, lead, silver processing and refining facilities in the state of Uttarakhand. The company also has wind power plants in the states of Rajasthan, Gujarat, Karnataka, Tamil Nadu and Maharashtra and solar power plants in the state of Rajasthan.

Hindustan Zinc continued to be India’s largest primary zinc producer with a primary zinc market share of 80 per cent (including alloys) in FY 2021-22.

The company will continue to benefit from its favorable capital structure and strong liquidity, driven by its dominant position in the domestic market, high cash flows from core business and efficient and integrated operations.

 

RELATED ARTICLES

Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

SIGNUP & GET $10000 BONUS

Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments