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Hindustan Zinc on a Roll – Despite Losses up 3% in Market

Hindustan Zinc share cost increased 3 per cent toward the beginning of the day meeting on October 21 after the organization pronounced its September quarter results.

The Vedanta group firm on October 20 announced a 6.7 per cent drop in net benefit to Rs 1,940 crore for the quarter finished on September 30, 2020, because of high costs.

The organization had posted a net benefit of Rs 2,081 crore in the year-back period, HZL said in a documenting to BSE.

Be that as it may, all-out salary of the organization expanded to Rs 6,050 crore in the July-September period from Rs 5,101 crore in the year-prior period.

Complete costs of the organization during the quarter expanded to Rs 3,428 crore from Rs 3,014 crore in the year-prior period.

Hindustan Zinc likewise declared a profit of Rs 21.30 per share. “The directorate of the organization at its gathering hung on October 20, 2020, have endorsed an interval profit of Rs 21.30 per value shares for the monetary year 2020-21 adding up to Rs 9,000 crore,” the organization said in a trade document.

Citi has held purchase rating on Hindustan Zinc with focus at Rs 240 for every offer. It is of the view that the Q2 income were in-line.

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