HINDUSTAN ZINC STOCK MOVEMENT AND ANNOUNCEMENT
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| battery manufacturing |
- Stock Jump: Hindustan Zinc share price increased by 4% during the late morning trade.
- Announcement: The Vedanta group company announced that it will supply zinc to the US-based battery maker AEsir Technologies.
- Stock Price at 11 am: The stock was trading at Rs 676.55.
Details on Agreement with AEsir Technologies:
- Preferred Supplier : Hindustan Zinc will be AEsir Technologies' preferred supplier for zinc.
- Usage: AEsir Technologies uses zinc in batteries for large-scale energy storage in industrial settings.
Company Overview:
- Global Standing: Hindustan Zinc is the world's 2nd largest integrated zinc producer and the 3rd largest silver producer.
- Indian Market Share: The company holds about a 75% market share in the growing zinc market in India.
Stock Performance:
- 6-Month Growth: The stock has appreciated nearly 120% in the last six months.
- Key Factors: The growth has been supported by the proposed demerger, management’s focus on deleveraging, and robust earnings.
Market Capitalisation:
- Growth: Hindustan Zinc, along with its group company Vedanta Ltd, has added Rs 2.2 lakh crore in market capitalization from March 28 to June 20, based on data from stock exchanges as reported by PTI.
Historical Stock Prices:
- All-Time Highs on May 22:
- Vedanta’s stock hit Rs 506.85.
- Hindustan Zinc’s stock hit Rs 807.
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