Hindustan Zinc jumped 4.22% to Rs 341.50 on 29th Dec'08, after the company hiked zinc prices by nearly 3%.
The price revision is effective from Thursday, 25 December 2008, a company circular said.
The stock hit a high of Rs 344.40 and a low of Rs 334.50 so far during the day. The stock had a 52-week high of Rs 842.95 on 2 January 2008 and a 52-week low of Rs 215 on 27 October 2008.
India's largest zinc producer by volumes has an equity capital of Rs 422.53 crore. Face value per share is Rs 10.
The current price of Rs 341.50 discounts its Q2 September 2008 annualised EPS of Rs 90.83, by a PE multiple of 3.75.
Hindustan Zinc on Friday, 26 December 2008, said it has hiked the prices of zinc, used in producing galvanised steel, by Rs 1,800 or 2.9% to Rs 63,400 a tonne. The company, however, kept the lead rates, used in batteries, rubber and paint industries, at previous week's level of Rs 70,500 per tonne.
Hindustan Zinc revises rates of its products mostly twice a weak following the price movement at the London Metal Exchange.
Hindustan Zinc's net profit declined 17.9% to Rs 959.51 crore on a 12.1% fall in sales to Rs 1743.84 crore in Q2 September 2008 over Q2 September 2007.
Hindustan Zinc specializes in the exploration, mining and smelting of zinc, lead and other non-ferrous metals. The company's products include zinc ore, lead zinc concentrate, zinc metal, lead metal, cadmium metal, silver metal and sulfuric acid.
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