Hindustan Zinc remains one of the most compelling plays in India’s metals universe, and my stance on the company stays firmly positive

Due to its unmatched cost structure and dominant position in the domestic zinc-lead market. The firm is entering a constructive phase where stable mined metal output, increasing refined volumes, and disciplined operational practices are setting the stage for healthier profitability. With zinc demand tied closely to galvanisation, infrastructure development and construction activity, Hindustan Zinc stands to gain meaningfully from the strong capex cycle unfolding in India. On the cost side, sustained improvements in mining efficiency, better grades and ongoing expansion projects support long-term volume visibility. The company’s integrated operations, strong balance sheet and one of the lowest global cash-cost profiles give it a structural advantage even in volatile price environments. As global inventories remain tight and the supply outlook is constrained, zinc fundamentals are gradually improving, enhancing the earnings trajectory for a producer of HZL’s scale. Overall, the business offers a favourable combination of stability, productivity gains and commodity-driven upside, making it an attractive long-term investment candidate within the resources space.