Hindustan Zinc Shares Surge 164% in FY25: Record High
May 22, 2024 18:39
Hindustan Zinc shares continue their rally, hitting a new record high and gaining over 164% in FY25. The stock's rise is attributed to the global commodities upturn and a recent dividend announcement.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, May 22 (PTI) Shares of Hindustan Zinc (HZL) have been on a rising spree for the sixth straight session on Wednesday, climbing nearly 38 per cent during this time, and hitting a fresh record high.
The stock climbed 4.13 per cent to settle at Rs 772.70 apiece on the BSE. During the day, it jumped 8.75 per cent to reach a record peak of Rs 807.
On the NSE, it soared 4.18 per cent to finish at Rs 772.30 each share. In intra-day, the stock went up by 8.95 per cent to Rs 807.70 -- the lifetime high level.
Since May 14, the stock has zoomed 37.96 per cent on the BSE.
The company's market valuation stood at Rs 3.26 lakh crore. The company's market valuation went past the Rs 2 lakh crore mark on May 10.
The stock has jumped over 164 per cent so far in FY25.
The firm is ahead of companies like JSW Steel, Tata Steel, and Hindalco in terms of market valuation.
Rally in the share was supported by the global upturn in the commodities cycle.
The company recently approved an interim dividend of Rs 10 per equity share for FY25, amounting to Rs 4,225.32 crore.
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