Hindustan Zinc Shares Climb 7% in Festive Rally as Silver Hits Fresh Peaks Amid Rate Cut Hopes

Zinc shares extended their bullish streak, surging over 7% in a four-day rally through Thursday, fueled by the unrelenting bull run in silver prices and broader precious metals momentum. The stock notched a new 52-week high of Rs 631.90 on the NSE during Wednesday's session before settling at Rs 624.85, up 2.47% for the day. This marks the highest level since early 2024, with the company benefiting from its position as India's largest integrated zinc-lead-silver producer. The uptick mirrors a festive surge in global metals markets, where safe-haven buying and anticipation of looser monetary policy dominate holiday-shortened trading. Silver, a key byproduct for Hindustan Zinc, touched a weekly high of $73.11 per ounce before easing to $72.15 in late U.S. sessions, up roughly 0.5% on the day and over 140% year-to-date. Gold breached $4,500 for the first time this month, closing at $4,493.08 per ounce, while platinum climbed to $2,276 per ounce, gaining 4.8% weekly.