Hindustan Zinc Shares Surge 2% Amid Soaring Silver Prices

Shares of

c, India's leading silver producer, climbed over 2% in early trading on Tuesday, reaching Rs 643.65 per share. The rally comes on the heels of a sharp spike in silver prices, fueled by escalating geopolitical tensions. As the nation's top silver refiner, Hindustan Zinc specializes in high-purity silver (minimum 99.9%), positioning it to benefit directly from the metal's upward momentum. Silver exchange-traded funds (ETFs) also reflected the enthusiasm, jumping 3% in tandem with the commodity's gains. Silver prices have breached the $79 per ounce threshold, now just 6% shy of all-time highs. This surge represents a 9% increase since the U.S. apprehended Venezuelan President Nicolás Maduro, amplifying global uncertainties and driving investors toward safe-haven assets. On India's Multi Commodity Exchange (MCX), March silver futures advanced nearly 2% to Rs 2,50,723 per kilogram, while May contracts followed suit, rising to Rs 2,56,800 per kilogram—edging closer to record levels.