Hindustan Zinc shares witnessed heavy selling pressure on Friday after reports emerged that the Indian government is planning to offload a 2% stake in the company through an Offer for Sale (OFS). The news triggered a sharp decline in the stock, with shares falling nearly 6% during the trading session.
Hindustan Zinc
Vedanta to Sell 1.6% Stake in Hindustan Zinc via OFS at Rs 685; Rs 4,600 Cr Fund Raise Plan
Vedanta Ltd (NSE: VEDL) has announced its plan to sell up to 1.6% stake in Hindustan Zinc Ltd through an Offer for Sale (OFS). The company aims to raise around Rs 4,600 crore from this stake sale.
Hindustan Zinc Share Price Target Rs 660: Why Jefferies Is Bullish on the Stock
Shares of Hindustan Zinc have been gaining attention again after global brokerage firm Jefferies initiated coverage on the stock with a Buy rating and a target price of Rs 660. The brokerage believes the company is well placed to benefit from rising silver and zinc prices and expects strong earnings growth over the next few years.
Hindustan Zinc Share Price Jumps 2.65%: Investors Cheer Strong Buying Mood
Hindustan Zinc Ltd (HZL) has added 11.3% over last one month compared to 2.15% fall in BSE Metal index and 0.69% rise in the SENSEX