Hind Zinc shines

Shares of Hindustan Zinc traded volatile in today’s session, slipping over 3% intraday to a low of Rs.488.70 before recovering partially. The stock opened at Rs.512.95 against a previous close of Rs.512.25, hitting a high of Rs.513.90 and a volume-weighted average price (VWAP) of Rs.494.40.

Market capitalization stood at Rs.2.07 lakh crore (full market cap), with a turnover of Rs.22.46 crore and total traded quantity of 4.54 lakh shares on the BSE.

After a sustained rally through early October, silver prices have turned volatile, triggering profit booking in both physical and futures markets.

Hindustan Zinc, India’s largest integrated zinc producer and a significant silver producer, derives roughly 18–20% of its revenue from silver sales, making its stock highly sensitive to fluctuations in silver prices.

While firm silver realizations have supported the company’s topline, analysts point to muted zinc and lead prices, along with higher energy and smelting costs, as near-term headwinds that could impact margin expansion in the upcoming Q2 FY26 results.

The broader metals pack remained mixed, with profit-taking across commodity-linked counters as global investors rebalanced portfolios after the recent rally in industrial metals and precious metals.

Hindustan Zinc’s short-term movement is expected to stay linked to silver price trends and global base-metal sentiment, while medium-term drivers include cost control, mined metal output, and dividend policy stability.