Hindustan Zinc Share Price Gains Over 1.5% Amid Silver Surge and Corporate Updates

Market Performance

Hindustan Zinc's share price witnessed a noticeable surge on July 11, rising by over 1.5% in early trade.

• Trading Price: ₹430 per share (early session)
• Percentage Gain: Over 1.5%

The price movement comes amid a sharp rally in silver prices both globally and domestically.

Main News: Silver Hits Lifetime High

The rally in silver prices was a key driver behind the stock's movement.

• Silver Futures (September): Opened at ₹1.09 lakh/kg on MCX
• High Recorded: Crossed ₹1.11 lakh/kg – all-time high
• Daily Gain: ₹1,000/kg in domestic markets

Hindustan Zinc, being India's largest silver producer, stands to benefit significantly from this price upswing. The company produces refined silver with 99.9% purity, positioning it well amid rising demand and value.

Company Details: Vedanta Clarifies on Allegations

Another factor influencing the share price was Vedanta Group's response to allegations raised by US-based short-seller Viceroy Research.

• Vedanta denied claims, labelling it a "Ponzi scheme"
• Chairman Anil Agarwal assured shareholders of transparency during the July 10 AGM
• Allegations were termed "motivated," and the company plans to address them publicly

Additionally, Vedanta emphasized its long-term growth vision through its 3D strategy – Demerger, Diversification, and Deleveraging – aimed at doubling its size and contributing to India's growth story.

Strategic Developments Highlighted:

• Acquisition of 10 critical mineral blocks across India
• Establishment of the world's first industrial Zinc Park
• Launch of India's largest Aluminium Park to support MSMEs and generate employment

These developments underline the group's ongoing commitment to industrial expansion and job creation.

Summary of the Article

On July 11, Hindustan Zinc's share price rose by over 1.5%, reaching ₹430 per share during the early trading hours. The key driver behind this jump was the record-breaking rise in silver prices, which crossed ₹1.11 lakh per kg—a historic high.

Being the leading silver producer in the country, Hindustan Zinc stands to benefit from this surge. Additionally, clarity from the parent group, Vedanta, on recent allegations brought further investor attention.

From critical mineral acquisitions to the launch of industrial parks, the company's growth narrative added momentum to its stock price, making it one of the notable performers of the day.