Hindustan Zinc shares fall 6% as silver cools off; Sandeep Kadam joins board

Shares of Hindustan Zinc snapped a three-day winning streak, slipping over 6 per cent to hit day’s low of Rs 653.10 on BSE in Thursday’s trade. The mining major’s stock surged nearly 50 per cent over the last six months. 

At last check, the counter was trading down 5.44 per cent at Rs 659.10 apiece, against the previous close of Rs 697.05.

The downturn in the stock price mirrors a drop in silver prices, which cooled off from record highs on Thursday following signs of easing geopolitical tensions. On the MCX, silver futures opened higher at Rs 3.19 lakh per kg but couldn't hold the gains. At the time of writing, silver rates were trading 2.21 per cent lower at Rs 3.11 lakh per kg, having dipped to a low of Rs 3.05 lakh per kg earlier in the session.

In a regulatory filing on Thursday, Hindustan Zinc said that the company board has approved the appointment of Sandeep Vasant Kadam as the Government Nominee Director (Non-Executive) effective January 19, 2026.

According to the company's investor presentation, the precious metal is now contributing significantly to profitability, accounting for 44 per cent of the company's profits.

In its earnings presentation released alongside the Q3 FY26 results, Hindustan Zinc highlighted that its silver revenue for the quarter stood at Rs 2,676 crore, a massive 83 per cent jump year-on-year.

Data from Trendlyne suggests the counter was trading in overbought territory, with the relative strength index (RSI) standing at 71.8. The money flow index (MFI) is also signalling an overbought zone at 80.4.

Despite the dip, the stock continues to trade significantly above its key moving averages. The counter is comfortably placed above its 50-day simple moving average (SMA) and its 200-day SMA.