Hindustan Zinc Ltd. Share Price

Hindustan Zinc H1 output record; Q1 profit was a price peak

Hindustan Zinc Limited reported its highest-ever first-half refined metal output on 3 October. Mined metal for the half was 539 kt, up 3 percent YoY, and silver output was 321 tonnes, up 10 percent. Q2 FY27 operating update (company, 3 October): Mined metal: 271 kt, up 5 percent YoY Refined metal: 264 kt, up 7 percent YoY Silver: 173 tonnes, up 20 percent YoY Wind power: 155 million units, up 17 percent YoY Volume is growing, but the profit is not a volume story. Q1 FY27 consolidated PAT was Rs 5,469 crore, up 145 percent, on revenue of Rs 13,747 crore. Q1 silver output was flat at 149 tonnes, and silver prices moderated sequentially, so the jump came from price. Hindustan Zinc [][***** trades at Rs 536.77 at 2:36 PM IST today on StockGro, down 0.3 percent. The NSE close on 9 October was Rs 543.50, and the NSE 52-week range is Rs 453.50 to Rs 733.00. At 13.3 to 13.5 times trailing earnings, against a sector P/E near 11, the stock is not cheap for a metal producer. My view: hold, not a fresh entry. Refined output and silver both rose faster than a year ago, and that is real. But trailing earnings include a record quarter, and the P/E is only as cheap as Q1 is repeatable. I need Q2 FY27 PAT at or above the Rs 5,469 crore of Q1, silver output at or above the 173 tonnes of Q2, and the result date confirmed. Without all three, no fresh money. My exit is a close below Rs 453.50, the NSE 52-week low. I watch the Q2 result and the silver price. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.

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Inox Green Soars 15% on ₹550 Cr Wind Deal

Inox Green Energy Services surged nearly 15% today (Oct 9 2026) after completing its ₹550 crore acquisition of Wind World India’s 4.5 GW wind operations and maintenance (O&M) business — a landmark deal that expands its managed capacity to over 13.3 GW and positions it for 20 GW+ in the near term. Analysts have set short‑term targets of ₹160–₹170. ⚡ Inox Green Energy — Key Developments Acquisition Completed: Paid ₹550 crore via subsidiary Vibhav Energy Pvt Ltd (VEPL) under a Business Transfer Agreement approved by the NCLT. Gains control of Wind World India’s 4.5 GW O&M portfolio, servicing marquee clients like Tata Group, ReNew, Greenko, Apraava Energy, and Hindustan Zinc. Assets spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh, and Andhra Pradesh. Financial Impact: FY26 revenue from acquired business: ₹580 crore, with 5% annual price escalation. Inox Green’s total O&M portfolio now ~13.3 GWp, including a separate 2 GW investment. Expected EBITDA multiple ≈ 2× post‑synergy realization. Market Reaction: Share price: Opened at ₹117.04, hit ₹131.80 (+15%) intraday on NSE. Analyst view: Hold with stop‑loss below ₹116; near‑term targets ₹146–₹155. Buy above ₹135 for upside to ₹160–₹170. 📈 Strategic Outlook Metric Before Acquisition After Acquisition Expected Impact O&M Capacity ~8.8 GW 13.3 GW+ +51% expansion Revenue (FY26) ₹2,810 million ₹3,390 million (est.) +20% growth EBITDA Margin 19% 22–24% (est.) Efficiency gains Client Base 50+ 100+ (incl. Wind World India) Diversified risk 🧭 Broader Context Renewable Push: Elevated crude prices (~$103 per barrel) are driving investor interest toward wind and solar O&M firms. Group Synergy: Backed by INOXGFL Group, which includes Inox Wind and Inox Clean Energy, enabling cross‑platform technology and service integration. Regulatory Note: SEBI’s ongoing probe into Inox Clean Energy’s ₹10,000 crore IPO does not directly affect Inox Green’s operations.

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Inox Green buys Wind World O&M for ₹550 cr

Inox Green Energy Services has completed a ₹550‑crore acquisition of Wind World India’s 4.5 GW wind operations and maintenance (O&M) business through its subsidiary Vibhav Energy Private Limited, expanding its total managed portfolio to ~13.3 GWp and strengthening its position as one of India’s largest renewable O&M players. ⚡ Transaction Highlights Deal value: ₹550 crore Structure: Business Transfer Agreement (BTA) approved by NCLT Ahmedabad Bench Subsidiary: Vibhav Energy Private Limited (VEPL) Stake: Inox Green will hold 75 % in VEPL post‑transfer Funding mix: ₹250 crore equity + ₹200 crore inter‑corporate deposit from Inox Green + ₹100 crore from Authum Investment & Infrastructure Ltd. 🌬️ Portfolio Details Metric Details Capacity acquired 4.5 GW wind O&M assets Revenue (FY 26) ~₹580 crore Annual escalation ~5 % contracted Client base Tata Group, ReNew, Greenko Group, Apraava Energy, Hindustan Zinc Geographic spread Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh, Andhra Pradesh Total O&M portfolio (post‑deal) ~13.3 GWp Target capacity (near term) > 20 GW managed assets 🧩 Strategic Significance Scale & Synergy: Integrates Wind World’s high‑quality assets with Inox Green’s technology platforms, improving operational efficiency and margins. Multi‑brand OEM Capability: Enhances ability to service turbines from multiple manufacturers, widening customer reach. Industry Consolidation: Reflects accelerating mergers in India’s renewable O&M sector as firms seek scale and nationwide coverage. Group Support: Backed by INOXGFL Group, leveraging synergies with Inox Wind and Inox Clean Energy for future expansion. 💬 Management Commentary “This transaction will be a defining step in our strategy to build India’s largest and most technologically advanced renewable‑energy services platform,” said Devansh Jain, Executive Director, INOXGFL Group.

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GST on Precious Metal Imports Small Tax Change

Imagine two doors through which precious metals enter India. One has enjoyed a tax advantage; the other operates under the regular tax framework. The government is now considering making the two doors more equal. The GST Fitment Committee has recommended withdrawing the IGST exemption for gold, silver and platinum imports by banks and nominated agencies, potentially bringing these imports under 3% IGST. The proposal is expected to be considered by the GST Council. Importantly, eligible importers may be able to claim input-tax credit, so the economic impact may be smaller than the headline 3% suggests. HINDUSTAN ZINC

Hindustan Zinc is an interesting potential indirect beneficiary because it is an integrated domestic producer of silver. FY26 silver production was 627 tonnes, while silver contributed around 45% of the company’s profitability. The simple story: if imported silver becomes relatively less attractive, domestic silver supply could become more valuable. But this is not a guaranteed benefit actual impact will depend on the final GST decision, ITC treatment, silver prices, import volumes and market premiums. Tax changes can alter relative competitiveness between imported and domestic supply, creating second-order effects across commodity producers and downstream industries.

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Hindustan Zinc Limited (HZL) – Q2 Operational Update

Executive Overview Hindustan Zinc Limited (a Vedanta Group enterprise) has released its Q2 operational update, reporting sustained volume expansion across its integrated mining and smelting operations. The quarter was highlighted by broad-based volume growth across base metals, headlined by double-digit expansion in refined lead throughput. Q2 Operational Performance Mined Metal Production: Reached 271 kilotonnes (kt), a 5% YoY increase, demonstrating steady underground mine productivity and ore extraction efficiency. Total Saleable Metal: Rose 7% YoY to 264 kt, underpinned by higher availability and operational efficiencies across processing facilities. Refined Zinc: Stood at 212 kt, moving up 5% YoY and reflecting steady asset utilization across primary smelters. Refined Lead: Delivered standout performance, surging 14% YoY to 51 kt due to enhanced operational throughput. Prior Quarter Baseline (Q1 FY27 Financial Highlights) The sustained physical throughput builds upon an exceptionally strong Q1 financial performance that beat Street consensus: Revenue: Surged 77% YoY to ₹13,747 crore (outperforming the CNBC-TV18 poll estimate of ₹12,599 crore). EBITDA & Margins: EBITDA more than doubled YoY to ₹8,050 crore; operating margins expanded to 58.56% (up from 49.70% in Q1 FY26). Net Profit: Jumped 144% YoY to ₹5,469 crore, materially exceeding market expectations of ₹5,059 crore. Market Context & Trading Metrics Price Action: HZL shares experienced near-term consolidation, declining ~2% to an intraday low of ₹547.20, with a 30-day pullback of 5.60% and a ~10% YTD decline. 52-Week Range: The stock currently trades 24.28% below its 52-week peak of ₹733.00, while maintaining a healthy 22.39% cushion above its 52-week floor of ₹453.50.

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PRE MARKET--> THE REPORT THAT YOU NEED BEFORE OPENING..

Crude Finally Cools, FIIs Start Buying at Lower Levels & Global Metals Recover — Can Nifty Defend 23,000? Indian markets enter today's session with some relief after days of intense pressure. The biggest positive is that Crude Oil has finally started cooling, while FIIs are showing signs of buying at lower levels. At the same time, global metals have started recovering, which could provide support to Indian metal stocks. But the market is not completely out of danger. Crude is still above $100, and Friday's second half could see weekend profit booking. ---->FII / DII Activity — 17 September 2026 Cash Market • FII: -₹3,208.76 crore • DII: +₹3,617.75 crore FII Derivatives • Index Futures: -₹300.05 crore • Index Options: +₹5,532.36 crore • Stock Futures: +₹507.77 crore • Stock Options: -₹549.17 crore ---->Metals Get a Boost Global metal prices have strengthened, helped by renewed buying interest from China. This could keep Indian metal stocks in focus: •

• Hindustan Copper • Hindustan Zinc • Vedanta • Tata Steel --->Nifty: 23,000 Remains the Key Support Major Support: 23,000 ---->Bank Nifty: 55,500 in Focus Key Support: 55,500 ------>Bottom Line Crude cooling and stronger metals are providing some relief, but FII selling remains the biggest challenge. DIIs continue to absorb foreign selling, while global metal prices are supporting the commodity-linked sectors. For today's session, the levels to watch remain: Nifty → 23,000 Bank Nifty → 55,500 Bank Nifty has also remained under pressure amid continued FII selling. traders should remain cautious, especially during the second half of Friday's session.

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