Hindustan Zinc rises on incorporating wholly owned subsidiary at Rajasthan
Hindustan Zinc is currently trading at Rs. 288.40, up by 0.85 points or 0.30% from its previous closing of Rs. 287.55 on the BSE.
The scrip opened at Rs. 287.55 and has touched a high and low of Rs. 289.85 and Rs. 287.00 respectively. So far 25300 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 407.90 on 18-Oct-2021 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. 290.15 and Rs. 284.40 respectively. The current market cap of the company is Rs. 121837.07 crore.
The promoters holding in the company stood at 64.92%, while Institutions and Non-Institutions held 33.39% and 1.69% respectively.
Hindustan Zinc has incorporated wholly owned subsidiary in the name and style of ‘Hindustan Zinc Fertilisers’ in the state of Rajasthan. The company has fully subscribed to 1 lakh equity shares of Hindustan Zinc Fertilisers for face value of Rs 10 each aggregating to Rs 10 lakh.
The new entity will carry on India & elsewhere business of manufacture, sale and dealing of multiple grades of nitrogenous, phosphatic, potassic fertilizers; chemical & other allied items and generally dealing in all types, classes and kinds of fertilizers, their intermediates, co-products and micro-nutrients that are essential to various crops/industries and in particular dealing with DAP/NPK complex fertilizers along with specialty and crop specific fertilizers, crop protection chemicals, any other downstream chemicals and related products based on consumers need and all kind of fertilizers and/or other disposition of all such products and by-products, through its state of art facilities and to carry out any other activity/activities and related services incidental in relation to the main object.
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.