Hindustan Zinc stock in focus today as board to consider raising of funds

Shares of Hindustan Zinc are in focus today as the firm would hold a board meeting on March 10 to consider raising funds via issue of listed non-convertible debentures on a private placement basis.

Hindustan Zinc stock climbed 4.03 per cent to Rs 411.35 on Wednesday against the previous close of Rs 395.40 on BSE. The large-cap stock opened higher at Rs 398.50. 

Hindustan Zinc stock stands higher than the 5 day, 10 day but lower than the 20-day, 30 day, 50-day, 100-day and 200-day moving averages.

The share has gained 33.17 per cent in a year and fallen 7.41 per cent since the beginning of this year. 

Market cap of the firm rose to Rs 1.79 lakh crore. The share hit a 52-week high of Rs 807.90 on May 22, 2024 and a 52-week low of Rs 285 on March 15, 2024.

"We hereby inform you that a meeting of the committee of directors of the Company (“Committee”) is scheduled to be held on Monday, March 10, 2025, inter alia, to consider and evaluate proposals for raising funds through the issue of listed non-convertible debentures on private placement basis, subject to market conditions. The proposed issuance shall be subject to the borrowing limits of the Company and any necessary approvals from stock exchanges and other regulatory/governmental authorities, as may be required. This proposal follows the resolution passed by the Board of Directors at its meeting held on January 28, 2025," said Hindustan Zinc.