Hindustan Zinc shares rise 8 percent

Bangalore: The Hindustan Zinc stock was among the top gainers after its price went up by eight percent over its previous close. The stock opened trade at 1,138 and during the day it touched the 52 week high of 1,213 before closing at 1,202.35 a rise of 7.84 percent from its previous close on Friday. Through the day, 165,564 shares of Hindustan Zinc were traded in the market, with the current P/E ratio of the stock at 19.74. The 52 week stock price chart is on the left.

Hindustan Zinc has mining and smelting operations in multiple locations within India. Its principal products are refined zinc and lead metal. In addition, the company also recovers silver, cadmium and sulphuric acid as byproducts. Its assets include Rampura Agucha, Sindesar Khurd, Rajpura Dariba and Zawar all in the state of Rajasthan. During the fiscal year ended March 31, 2009, the company produced total refined zinc metal production of 551,724 tons and the production of lead was 60,323 tons.

Out of the 24 analysts following the stock currently, the consensus recommendation is outperform, with 12 analysts recommending to buy the stock. SBI Magnum Contra Fund holds the highest number of Hindustan Zinc shares with 735,786 shares in its portfolio.