Shares of Hindustan Zinc (HZL) hit their lifetime peak on Monday and climbed more than 10 per cent amid a host of positive factors surrounding the firm.
Also read:Zinc futures: Bullish pattern remains valid The company's market capitalisation (mcap) touched ₹2.44 lakh crore. With this, the company became the most valued metals and mining firm, ahead of companies like Tata Steel, JSW Steel and Hindalco.
Shares of the company ended at ₹578.85, up 9.71 per cent on the BSE. During the day, it rallied 11 per cent to reach the record high of ₹585.90.
At the NSE, it soared 10.19 per cent to ₹579.10. Intra-day, it hit the lifetime high of ₹586, up 11.51 per cent.
The company's stock has gained nearly 90 per cent since the start of FY25, with its valuation crossing the crucial ₹2 lakh crore mark on May, 10.
Rally in the share was also supported by the global upturn in the commodities cycle.
HZL is now among the top 35 companies on the domestic stock exchange based on market cap, moving up from the 51st rank as on December 31 last year to 34th position now.
The company recently approved an interim dividend of ₹10 per equity share for FY25, amounting to ₹4,225.32 crore.
The record date for the interim dividend is May, 15.
HZL reported a strong operational performance in FY24 results, becoming the world's third largest silver producer and clocking its highest-ever annual silver production, up 5 per cent year-on-year.
The company also holds the second-largest zinc reserves and resources at a global level, which helped it clock an industry-leading production growth rate and its best-ever annual metal production.
Also read:Hindustan Zinc ventures into exploration for critical and offshore minerals, establishes subsidiary "FY24 has been a year of solid growth for HZL, with mined metal, refined metal and silver recording its highest historic production levels, supported by a backdrop of fatality-free operations. The company withstood the market headwinds during the year, ensuring preservation of margins and shareholder value," HZL CEO Arun Misra had said, while commenting on the results.
