Hindustan Zinc shares jump 9% to hit 52-week high as silver tops Rs 2 lakh/kg

Shares of Hindustan Zinc Ltd jumped 8.62 per cent in Friday's trade to hit a one-year high of Rs 567.50, driven by a sharp surge in silver prices. Silver futures for the March expiry touched fresh record highs, crossing the Rs 2 lakh per kg mark for the first time.

As India's largest silver producer, Hindustan Zinc stands to benefit from the strong rally in the metal. The Vedanta subsidiary is known for processing refined silver with a minimum 99.9 per cent purity.

The stock is also moving in line with its metal peers after Chinese leaders pledged to maintain a "proactive" fiscal policy next year to spur consumption and investment and support economic growth. Hopes of fiscal stimulus have eased concerns over the slowdown seen in the second half of 2026 in most sectors outside China's trillion-dollar trade surplus.

Pro-growth policies in China typically support metal demand and pricing, given the country's position as both the largest producer and consumer.

Technically, one analyst expects Hindustan Zinc's stock to trade in the Rs 530–580 range, with an upside potential towards Rs 570–580. Another pointed out that dips near Rs 520–515 could offer good buying opportunities.

Ravi Singh, Chief Research Officer at Mastertrust, said the stock still has scope to extend its winning streak, with an upside potential towards Rs 570–580. He added that any dip near Rs 520–515 could be considered an opportunity to build fresh long positions.

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, stated that support lies at Rs 530 and resistance around Rs 570. A firm breakout above Rs 570 could open the door for further gains up to Rs 580. He expects the stock to trade within the Rs 530–580 range in the short term.