Hindustan Zinc announces 2nd interim dividend of ₹19; stock rises 2%
The board of Hindustan Zinc has approved the second interim dividend worth ₹8,028.11 crore.
The board of Hindustan Zinc has approved the second interim dividend worth ₹8,028.11 crore.
The share price of Hindustan Zinc has corrected nearly 40% from its 52-week high of ₹807 touched on May 22, 2024.
The government holds a 29.54% stake in HZL while Vedanta owns 64.92% shares in the metal and mining company, which are largely pledged.
Shares of Hindustan Zinc gained 19.4% to hit a 52-week high of ₹738.90
Vedanta group firm’s revenue grew just 3% at ₹7,549 cr QoQ but fell 11% YoY on significantly lower zinc & lead prices and lower lead volume
India’s first all-women rescue team, flexibility in work hours and focus on employee mental well-being help company stand out as a future workplace.
In the September quarter, the company's revenue from operations stood at ₹6,791 crore, down by 18.5%, as against ₹8,336 crore in the corresponding period of the previous year.
For the first time, Hindustan Zinc has paid a royalty of 1.7% of the annual revenue to Vedanta, which will be used by parent, Vedanta Resources, to pare some of its debt.
The metal and mining major pledged 13.94 crore shares or 3.3% stake in its subsidiary Hindustan Zinc on May 22 in favour of Axis Trustee Services
With the fifth dividend, Vedanta’s total outgo for the current fiscal will be ₹101.5 per share, which amount to ₹37,730 crore, the highest ever by the company.