Image Source
Hindustan Zinc Stocks Update:
As zinc prices continued to rise, Hindustan Zinc shares reached a 52-week high of Rs 506.7 per share on May 10, marking a surge of more than 11 percent compared to the previous day. The price of the commodity on the London Metal Exchange increased by more than two percent, reaching $2,955, as a result of encouraging data about China’s trade, which represented an increase in both imports and exports during the month of April.
On the National Stock Exchange (NSE), the price of a single share of Hindustan Zinc was Rs 504.85 at 1.30 p.m.
Given that China is both a significant user and producer of zinc, the good trade data that China reported also showed a resurgence in domestic and international demand. This is beneficial for zinc prices because China is a large consumer and producer of the metal.
Positive sign for Hindustan Zinc
While this is going on, a rise in the price of zinc is a positive sign for Hindustan Zinc, which is in the business of mining and refining the metal.
As zinc prices continued to rise, Hindustan Zinc shares reached a 52-week high of Rs 506.7 per share on May 10, marking a surge of more than 11 percent compared to the previous day. The price of the commodity on the London Metal Exchange increased by more than two percent, reaching $2,955, as a result of encouraging data about China’s trade, which represented an increase in both imports and exports during the month of April.
On the National Stock Exchange (NSE), the price of a single share of Hindustan Zinc was Rs 504.85 at 1.30 p.m.
Given that China is both a significant user and producer of zinc, the good trade data that China reported also showed a resurgence in domestic and international demand. This is beneficial for zinc prices because China is a large consumer and producer of the metal.
In the same vein, a rise in the price of zinc is expected to be beneficial for Hindustan Zinc, which is engaged in the mining and processing of the metal.
Read more: core stocks of India and their statuses
