Hindustan Zinc Share Price Sets New Benchmark
Hindustan Zinc has recorded a surge of about 80 per cent in its traded volume. A total of 12,62,226 shares of the company has been traded in NSE so far. Hindustan Zinc share price made a new lifetime high of Rs 216.15 this morning. Around 20 years ago on 15th November 1996 the share made a lifetime low of Rs 0.44. The free float market cap of the Company as of 1st August 2016 is Rs 5,170.52 crore.
Total income of the company took a fall 30 per cent to Rs 2,530.61 crore in Q1 FY17 from Rs 3,630.17 crore during the corresponding quarter of the previous year. On the decline in revenues, Hindustan Zinc said it was on account of lower volumes, mainly zinc, and lower LME (London metals Exchange) partly offset by higher rupee depreciation and higher silver price.
The revenue of the Company decreased 19 per cent due to lower volumes which was partly offset by higher prices of zinc and silver. The production cost of Zinc metal per tonne before royalty (COP) during the quarter went upto Rs 62,138 (US$ 928) in line with production plan of lower volumes from Rampura Agucha open cast mine in the Q1 FY17 and thus lower average grades.
The firm also witnessed an upward movement in silver prices, which along with increasing volumes is accentuating its contribution in the profits, having touched almost 20 per cent at present.
Ore production from Sindesar Khurd slipped and reached the originally conceived capacity of 3.75 million tonnes annually (MTPA) and production from Rampura Agucha underground mine crossed one MTPA production rate during the quarter.
Hindustan Zinc share price is currently trading at Rs 212.95, up by 4.41 per cent or 9 points. The intraday high and the intraday low for the day are Rs 216.15 and Rs 205.10 respectively. Check Hindustan Zinc share price forecast for the important support and resistance levels.