Hindustan Zinc shares up nearly 4% on board meeting

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Hindustan Zinc shares up nearly 4% on board meeting

Shares of the mining firm Hindustan Zinc went up nearly 4% on December 3 after the company said its board would meet on December 7 to consider and approve interim dividends on equity shares for FY 22.

The stock opened at Rs 343.20 with a gain of 3.02% against the previous close of Rs 333.15 on the BSE.

The stock was trading close to an intraday high of Rs 346.1, rising 3.89% today. The large cap stock has gained 3.26% in the last 2 days.

Hindustan Zinc's share is higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock of Hindustan Zinc has risen 43.66% since the beginning of the year and gained 44% in a single year. There were 1.02 lakh shares of the firm that changed hands with a turnover of Rs 3.49 crore on the BSE.

The firm's market cap rose to 1.45 lakh crore on the BSE. On October 18, 2021, the stock hit a 52 week high of Rs 407.90 and a 52 week low of Rs 224.70 on December 22, 2020.

The date for eligibility of the interim dividend would be December 15, the company said. In August, the company deferred its board meeting to consider interim dividends for the current financial year, but did not cite any reason.

The government owns 29.5 percent of the company's shares while the zinc and lead miner is a subsidiary of Vedanta.

The net profit at Rs 2,017 crore for the quarter ended September 30 was increased by 3.9 per cent on the back of higher revenue from operations.

The company had a net profit of 1,940 crore in the year-ago period. Revenue from operations in the July-September quarter rose to Rs 5,958 crore from Rs 5,533 crore in the year-ago period. The total expenses of the company increased to Rs 3,571 crore in the quarter against Rs 3,428 crore in the year-ago period.