Hindustan Zinc stock gains 2.5% on rise in March output

Shares of Hindustan Zinc gained over 2 per cent in early trade today after the firm reported a 17 per cent rise in its mined output (Q-o-Q basis) in the March quarter. Hindustan Zinc stock climbed 2.48 per cent to Rs 333 against the previous close of Rs 324.95 on BSE.

The large cap stock opened with a gain of 2.03 per cent at Rs 331.55.

Hindustan Zinc stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 9.8 per cent in one year and risen 3.12 per cent since the beginning of this year. Total 0.23 lakh shares of the firm changed hands amounting to a turnover of Rs 76.13 lakh on BSE.

Market cap of the firm rose to Rs 1.38 lakh crore. The share hit 52-week high of Rs 407.90 on October 18,2021 and a 52-week low of Rs 275 on April 19, 2021.

The firm reported an output (mined metal content) of 2,95,000 tonne for the quarter ended March 2022 against 2,52,000 tonne in the December quarter of the previous fiscal.

Output climbed 3 per cent from 2,88,000 tonne in Q4 of FY21 (year on year basis).

The Vedanta Group company reported a 22.77 per cent rise in Q3 net profit at Rs 2,701 crore against Rs 2,200 crore in the corresponding quarter of previous fiscal.

 It reported a 17.27 per cent rise in net profit at Rs 7,980 crore for the fiscal ended March 2021 against Rs 6,805 crore profit for the fiscal ended March 2020.