Hindustan Zinc Share Price Falls 13% as Silver Prices Plunge After Record Rally

The shares of Hindustan Zinc saw a sharp decline of nearly 13% on January 30, as silver prices took a steep dive after a historic bull run. Investors in the stock market today watched closely as the Vedanta Group company’s stock slipped, reflecting the broader correction in the global precious metals market.

Market Performance: Silver Prices Take a Hit

Silver prices, which had been on an impressive rally, saw a significant pullback:

• COMEX Silver dropped nearly 14%, settling at $98.685 per ounce, after hitting a lifetime high of $119.51 per ounce the previous day.
• Silver futures in India also suffered steep losses:
  • March contracts fell 15%, to Rs 3,39,910 per kg
  • May contracts declined 15%
  • July contracts dropped 12%

This sharp fall in prices reflects a sudden shift in global sentiment, triggering one of the largest corrections after a prolonged bull run.

Hindustan Zinc Share Price Today

Hindustan Zinc, the largest producer of silver in India, produces refined silver with a purity of 99.9%. Naturally, the global dip in silver prices had a direct impact on the stock.

• Share price: Rs 622.85 per share (as of afternoon trading on January 30)
• Percentage drop: ~13% in a single trading session

The stock’s movement highlights how closely Hindustan Zinc’s performance is tied to global silver prices.

Silver ETFs Mirror the Decline

The slide in silver prices was mirrored in the performance of silver-focused ETFs in India. Key movements include:

• Axis Silver ETF: down 24%
• ICICI Prudential Silver ETF: down 23%
• Kotak Silver ETF: down 23%
• SBI Silver ETF and others: dropped more than 22%
• Other ETFs including Mirae Asset Silver, Motilal Oswal Silver, HDFC Silver, and Nippon India Silver also recorded sharp losses.

This correction in ETFs further underlines the impact of silver price volatility on investor portfolios.

Company Overview: Hindustan Zinc

Hindustan Zinc, a part of the Vedanta Group, is India’s largest silver producer and operates some of the most advanced mining facilities in the country. The company is known for:

• Producing high-purity silver (99.9%)
• Maintaining strong operations in zinc and silver production
• Being highly sensitive to global metal price fluctuations, especially silver

With silver prices tumbling sharply, Hindustan Zinc’s stock naturally reflected the market correction.

Summary: What Happened and Why?

• Hindustan Zinc share price fell 13%, ending at Rs 622.85
• Silver prices corrected globally after a record bull run, dropping 14% on COMEX
• Silver futures in India fell between 12-15%, depending on expiry
• Silver ETFs mirrored the decline, losing up to 24%
• The stock’s performance is a direct reflection of silver market volatility

The sharp correction serves as a reminder of how global commodities directly influence domestic stock prices. Investors and market watchers today witnessed a classic interplay between international metals markets and stock performance.

Source: Moneycontrol