Hindustan Zinc Surges 4% as Silver Hits Record Highs
Overview
Hindustan Zinc shares jumped over 4% to ₹632.55, fueled by silver's record surge to $84.61 amid geopolitical tensions. Silver contributed 40% to Q2FY26 profits. Analysts advise caution, noting the need to sustain above ₹650 for further gains, with ₹610 as a key support level.
Stocks Mentioned
Hindustan Zinc Shares Climb on Silver's Record Rally
Hindustan Zinc Limited's share price surged 4.30% to ₹632.55 on the National Stock Exchange (NSE) Monday, reaching its highest level since January 7. The stock's ascent was propelled by a significant rally in silver prices, which hit record highs amid escalating geopolitical tensions.
Silver's Global Surge
Silver prices jumped 5.95% to a new high of $84.61 per ounce on Monday, driven by investor demand for safe-haven assets. Market participants are closely monitoring global geopolitical developments, including unrest in Iran and investigations involving the U.S. Federal Reserve, which are increasing uncertainty.
Hindustan Zinc's Performance
The white metal is a crucial revenue stream for Hindustan Zinc, contributing 40% to its overall profit during the second quarter of the current financial year (Q2FY26). The company announced it produced 158 tonnes of silver in the third quarter of FY26.
Analyst Outlook
Anshul Jain, head of research at Lakshmishree, noted that while the stock has shown price strength, a decisive trending move requires it to sustain above the ₹650 level to target ₹700. He advised caution, suggesting that a breach below ₹610 would negate the bullish structure and potentially turn the recent gap-up into a bull trap.
