Hindustan Zinc gains on planning to invest over $1 billion to convert diesel-fired mining vehicles into battery-operated ones
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Hindustan Zinc is currently trading at Rs. 325.00, up by 1.20 points or 0.37% from its previous closing of Rs. 323.80 on the BSE.
The scrip opened at Rs. 320.60 and has touched a high and low of Rs. 326.95 and Rs. 316.45 respectively. So far 17333 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 372.15 on 03-Mar-2022 and a 52 week low of Rs. 242.40 on 06-Jul-2022.
Last one week high and low of the scrip stood at Rs. 326.95 and Rs. 315.20 respectively. The current market cap of the company is Rs. 137555.26 crore.
The promoters holding in the company stood at 64.92%, while Institutions and Non-Institutions held 33.30% and 1.77% respectively.
Hindustan Zinc (HZL) is planning to invest over $1 billion (around Rs 8,270 crore) to convert its diesel-fired mining vehicles into battery-operated ones and also to fully turn a green energy user, over the next five years.
The Udaipur-based company, which is also the sole manufacturer of silver and the largest maker of zinc and lead in the country, is already running four of its 900 mining vehicles on battery on a pilot basis.
The company with an annual production of 1 million tonne zinc, up from 1 lakh tonne when it was privatized by the government in 2002, also expects stable demand in the March quarter despite the growing fears of a global recession.
Hindustan Zinc, the world’s second biggest zinc producer, operates the world’s third largest open-pit mine, and world’s largest Zinc Mine in Rampura Agucha, Rajasthan.
