Last Updated: April 05, 2023, 11:35 IST
Hindustan Zinc Shares Rise
Hindustan Zinc shares traded 2 per cent higher in Wednesday’s Trade
Hindustan Zinc shares traded 2 per cent higher in Wednesday’s Trade as the company’s refined metal production rose three per cent to the highest-ever level of 269 kilotonnes in Q4.
The company said higher production was due to better plant availability and consistent mined metal flow from mines.
For the fourth quarter, Hindustan Zinc’s refined metal production was at 8.2 lakh tonnes, up 3 per cent from 2022, and 5 per cent from the third quarter of FY2023.
Hindustan Zinc’s mined metal production was 4 percent higher at 10.6 lakh tonnes, which was driven by higher ore production, improved mined metal grades and operational efficiencies.
During the fourth quarter of the financial year, the company’s mined metal production was at 3 lakh tonnes, up 2 per cent over last year, while it was 19 per cent higher from the previous quarter. This was also the highest-ever production in a single quarter.
Integrated zinc production was at 215kt, up 2 per cent year-on-year and in comparison to the quarter ending in December. Refined lead production was at 54kt, up 10 per cent year-on-year and 17 in comparison to the previous quarter, resulting from better plant availability and consistent mined metal flow from mines.
Saleable silver production was 5.9 moz, up 13% YoY in line with lead metal production and 13 per cent year-on-year, in line with lead metal production and higher WIP depletion in base period.
Hindustan Zinc’s stock price has surged as much as 89 per cent in the last three years. Returns from the stock has, however, declined more than 8 per cent in the last one year.
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