The surge comes as silver continues to draw investor curiosity as each an industrial and safe-haven asset.
Hindustan Zinc, which is the world’s third-largest silver producer, has emerged as a key beneficiary of this rally.
On Tuesday, silver July futures on the Multi Commodity Alternate (MCX) hit a brand new all-time excessive of Rs 1,07,171 per kg, earlier than settling at Rs 1,07,087 per kg with a 1.54% acquire.
The robust uptrend in silver has been supported by a weakening US greenback, firmness in different industrial metals, and elevated demand for safe-haven belongings amid geopolitical uncertainties.
Silver costs have remained unstable however elevated, with analysts citing a mixture of macroeconomic drivers. “We count on gold and silver costs to stay unstable this week amid fluctuations within the greenback index, geopolitical tensions, and forward of U.S. inflation information. Silver might maintain above the $34 per troy ounce degree on a weekly closing foundation,” mentioned Manoj Kumar Jain of Prithvifinmart Commodity Analysis.Hindustan Zinc’s robust correlation with international silver costs, given its important contribution to international silver manufacturing, has turned investor consideration towards the inventory. Additionally learn: Sebi probes Jane Road’s by-product trades over 3 years: Sources
Hindustan Zinc share value historical past
Over the previous one yr, the inventory of Hindustan Zinc has declined by 19.88%, regardless of displaying a restoration in latest months. On a year-to-date (YTD) foundation, it has gained 20.74%, whereas over the previous six months, it’s up 7.59%. Within the final three months, the inventory has risen 25.71%, and up to now one month alone, it has surged 31.44%, reflecting robust short-term momentum.
Round 11:30 am at this time, the shares of Hindustan Zinc have been buying and selling 2.14% larger at Rs 536.40 on the BSE.
(Disclaimer: Suggestions, strategies, views and opinions given by the consultants are their very own. These don’t characterize the views of The Financial Instances)
