Hindustan Zinc shares hit 52-wk high; board to meet on Jan 23; check targets & more

Shares of Hindustan Zinc Ltd witnessed a stellar run on Dalal Street, rallying as much as 2.77% to scale a fresh 52-week high of Rs 699.35 on the BSE on Wednesday. The mining major has been buzzing, gaining nearly 10% since reporting its December quarter earnings on Monday.

The Vedanta Group subsidiary informed the exchanges that its board of directors is scheduled to meet later this week. 

In a regulatory filing on Tuesday, the company said that a meeting is scheduled to be held on Friday, January 23, 2026, inter alia, to consider and evaluate proposals for raising funds through the issue of listed non-convertible debentures on private placement basis. 

The scrip has given remarkable returns of 56% over the past six months.

The company's impressive third-quarter performance is a major factor supporting the bullish sentiment. Hindustan Zinc reported its profit after taxes (PAT) of Rs 3,916 crore, marking a 46% jump from Rs 2,678 crore in the corresponding period last year.

The company posted its revenue of Rs 10,980 crore, a 27% increase year-on-year (YoY) compared to Rs 8,614 crore in the year-ago quarter. 

EBITDA stood at Rs 6,087 crore, up 34% YoY. The EBITDA margin expanded to an industry-leading 55%, reflecting a growth of approximately 270 basis points YoY. The management noted a 5-year low quarterly cost of production of $940 per tonne and attributed this performance to increased commodity prices and cost savings. 

Following the earnings announcement, brokerages have revised their targets. Earlier in a note dated January 19, JM Financial maintained a ‘Buy’ rating on Hindustan Zinc and raised its target price to Rs 770 from Rs 600. 

Similarly, Systematix Institutional Equities also retained a ‘Buy’ call with a target price of Rs 755.