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Page 2 - Hindustan Zinc

Hindustan Zinc dividend sweetens deal for offer for sale investors

Commodity major declares second interim dividend of Rs 19 a day after OFS concluded

Hindustan Zinc dividend sweetens deal for offer for sale investors
Updated On : 21 Aug 2024 | 11:42 PM IST

Hindustan Zinc shares jump 4% on dividend announcement of 950% for FY25

Hindustan Zinc has announced that its board declared a dividend of Rs 19 per equity share, or 950 per cent on the face value of Rs 2 per equity share, for FY25

Hindustan Zinc shares jump 4% on dividend announcement of 950% for FY25
Updated On : 20 Aug 2024 | 2:27 PM IST

Vedanta estimated to have raised Rs 3,200 cr from OFS of subsidiary HZL

Mining conglomerate Vedanta Ltd is estimated to have raised around Rs 3,200 crore from the offer for sale (OFS) of subsidiary Hindustan Zinc Ltd. The offer for sale (OFS) of Vedanta group firm Hindustan Zinc Ltd received a strong response from retail and institutional investors, sources said. Vedanta is estimated to have received around Rs 3,200 crore from the OFS, they said. Vedanta will utilise the proceeds generated from the OFS for deleveraging its balance sheet and investment in its growth projects. This, coupled with the Rs 8,500 crore qualified institutional placement, will help bring down debt at the company as well as at the group level. Base issue size for retail investors was 51.44 lakh shares while total retail subscription is 93.82 lakh shares, or 1.8 times of the base issue size. For institutional investors, the base issue was 4.62 crore shares while total institutional subscription is 6.36 crore, or 1.4 times, sources said, adding that the total shares sold through

Vedanta estimated to have raised Rs 3,200 cr from OFS of subsidiary HZL
Updated On : 19 Aug 2024 | 9:40 PM IST

Hindustan Zinc plummets 6% as promoter Vedanta plans further stake sale

The stock price dipped after the company's promoter, Vedanta decided to further offload a 0.29 per cent stake in the company through its ongoing offer for sale (OFS)

Hindustan Zinc plummets 6% as promoter Vedanta plans further stake sale
Updated On : 19 Aug 2024 | 10:37 AM IST

Commodity major Hindustan Zinc offer for sale gets bids for Rs 3,150 crore

Promoter less than half of what Vedanta was eyeing

Commodity major Hindustan Zinc offer for sale gets bids for Rs 3,150 crore
Updated On : 16 Aug 2024 | 11:39 PM IST

Hindustan Zinc slips 8% after Vedanta begins partial stake sale via OFS

Hindustan Zinc OFS: Vedanta will offload 3.2 per cent stake in HZL at a floor price of Rs 486 per share. This is at a 15-per cent discount to HZK's last closing price

Hindustan Zinc slips 8% after Vedanta begins partial stake sale via OFS
Updated On : 16 Aug 2024 | 10:09 AM IST

Hindustan Zinc plans special dividend payout of Rs 8,000 cr to shareholders

Vedanta group firm Hindustan Zinc Ltd (HZL) plans to dole out a special dividend payout of Rs 8,000 crore to its shareholders in the current fiscal, according to sources. HZL's board is likely to meet on Tuesday to consider and approve the special dividend payment for this fiscal, they said. "Of this, around 30 per cent or Rs 2,400 crore may go to the Centre contributing to its non-tax revenues for the fiscal," sources in the know of the development said. The move follows the National Company Law Tribunal's (NCLT) approval to transfer Rs 10,383 crore of general reserves to its retained earnings. This special dividend will be over and above the regular dividend of around Rs 6,000 crore, which HZL doles out every year. Apart from the government, this will also benefit promoter Vedanta Ltd, which holds around 65 per cent stake in HZL, and will receive around Rs 5,100 crore, which it may use to further de-leverage its balance sheet. Vedanta will also be selling up to a 3.31 per cent

Hindustan Zinc plans special dividend payout of Rs 8,000 cr to shareholders
Updated On : 15 Aug 2024 | 9:49 PM IST
Updated On : 14 Aug 2024 | 8:46 PM IST

Vedanta raises OFS size of Hindustan Zinc, set to offload 3.31% stake

Mining conglomerate Vedanta on Wednesday said it has raised the offer-for-sale size of Hindustan Zinc and will now offload 3.31 per cent stake in the company, representing up to 14 crore shares. On Tuesday, the Vedanta board approved the sale of up to 11 crore shares or 2.60 per cent stake in Hindustan Zinc through offer-for-sale (OFS). "The duly authorised Committee of Directors of Vedanta Ltd , at its meeting held on August 14, 2024, has approved the sale of up to 14,00,00,000 equity shares of Hindustan Zinc Ltd (HZL), representing 3.31 per cent of the issued and paid-up equity share capital of HZL, by way of an offer-for-sale," Vedanta said in a filing to BSE. At Wednesday's closing price of Rs 572.95 apiece on BSE, the sale of HZL's 14 crore shares will fetch Vedanta Rs 8,021 crore. At 11 crore shares, the amount would have been Rs 6,302 crore. At the end of the June quarter, Vedanta owned 64.92 per cent stake in HZL while the government had 29.54 per cent. Vedanta plans to .

Vedanta raises OFS size of Hindustan Zinc, set to offload 3.31% stake
Updated On : 14 Aug 2024 | 6:04 PM IST

Metal shares fall on adverse SC ruling; Tata Steel, Vedanta drop up to 6%

The Supreme Court ruled in favor of the State governments' authority to levy taxes on mineral rights.

Metal shares fall on adverse SC ruling; Tata Steel, Vedanta drop up to 6%
Updated On : 14 Aug 2024 | 1:12 PM IST

Hindustan Zinc dips 4% as Vedanta board okays 2.6% stake sale via OFS

Meanwhile, Hindustan Zinc has dismissed rumours of Rs 6,000 crore worth special dividend.

Hindustan Zinc dips 4% as Vedanta board okays 2.6% stake sale via OFS
Updated On : 14 Aug 2024 | 10:25 AM IST

Vedanta board okays 2.6% OFS worth Rs 6,450 crore in Hindustan Zinc

Company to offload stake through the stock exchange route

Vedanta board okays 2.6% OFS worth Rs 6,450 crore in Hindustan Zinc
Updated On : 13 Aug 2024 | 8:52 PM IST

Hindustan Zinc clarifies on reports of Rs 6,000 crore special dividend

Hindustan Zinc Limited said it was 'unable to comment' on media speculations of declaring a special dividend amounting to Rs 6,000 crore

Hindustan Zinc clarifies on reports of Rs 6,000 crore special dividend
Updated On : 12 Aug 2024 | 3:03 PM IST

Hindustan Zinc Q1 results: Net profit rises 19.4% to Rs 2,345 crore

The company clocked in the highest-ever first-quarter mined and refined metal production

Hindustan Zinc Q1 results: Net profit rises 19.4% to Rs 2,345 crore
Updated On : 02 Aug 2024 | 8:45 PM IST

Hindustan Zinc Q1FY25 results: Net profit rises 19% to Rs 2,345 cr

Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday reported 19.3 per cent rise in consolidated net profit at Rs 2,345 crore for June quarter FY25. The company had posted a net profit of Rs 1,964 crore for the year-ago period. Income rose to Rs 8,398 crore from Rs 7,564 crore in the year-ago period, HZL said in a filing to BSE. Hindustan Zinc is the world's second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75 per cent of the primary zinc market in India.

Hindustan Zinc Q1FY25 results: Net profit rises 19% to Rs 2,345 cr
Updated On : 02 Aug 2024 | 4:54 PM IST

Hindustan Zinc to explore avenues of zinc applications in batteries: Hebbar

Vedanta group firm Hindustan Zinc Ltd (HZL) on Monday said it is committed to being future-ready and will explore new avenues of zinc applications in batteries. The company will explore avenues of zinc applications in batteries alongside its focus on volume enhancement, reduction in cost of production and creating value for stakeholders, Hindustan Zinc Chairperson Priya Agarwal Hebbar said in a statement. Hindustan Zinc Ltd in its efforts to support the ongoing global energy transition and thrust on emerging clean tech, will explore new avenues of zinc applications in batteries, the statement added. "With the world undergoing an energy transition, developing climate-friendly technologies will be highly mineral intensive, and the metals and mining sector will have a big role to play to support this transition. "At Hindustan Zinc, we are committed to being future-ready and augmenting the supply of critical minerals, for India and for the world," she said. According to Hindustan Zinc

Hindustan Zinc to explore avenues of zinc applications in batteries: Hebbar
Updated On : 29 Jul 2024 | 7:20 PM IST

HZL market cap up nearly 477 times to Rs 2.8 trn, says Chairperson Hebbar

Vedanta group firm Hindustan Zinc Ltd (HZL) on Monday said its market capitalisation grew by nearly 477 times to reach about Rs 2.8 lakh crore from Rs 600 crore two decades ago. Speaking during the 58th Annual General Meeting on Monday, the company's Chairperson Priya Agarwal Hebbar said Hindustan Zinc's market capitalisation at about Rs 2.8 lakh crore is the highest among all metal and mining peers in the country. "This marks a growth of nearly 477 times in market capitalisation from a mere Rs 600 crore two decades ago," she said. In FY24, she said, the company achieved significant improvements in its operational efficiencies and saw a remarkable reduction in the cost of production. "We advanced into the first decile of the cost curve and recorded the lowest annual production cost in the past three years at USD 1,117 per tonne," she said. Hindustan Zinc is the world's second-largest integrated zinc producer and the third-largest silver producer. The company supplies its products

HZL market cap up nearly 477 times to Rs 2.8 trn, says Chairperson Hebbar
Updated On : 29 Jul 2024 | 5:55 PM IST

Hindustan Zinc launches Asia's first low-carbon zinc brand, EcoZen

The automotive industry is a significant consumer of zinc, primarily for galvanisation to protect steel from corrosion

Hindustan Zinc launches Asia's first low-carbon zinc brand, EcoZen
Updated On : 24 Jul 2024 | 9:19 PM IST

Vedanta's Hindustan Zinc contributes Rs 13,195 cr to exchequer in FY24

Vedanta group firm Hindustan Zinc Ltd (HZL) on Monday said it has contributed Rs 13,195 crore to the exchequer in the last financial year, representing about 46 per cent of its total revenues. In FY 2023-24, Hindustan Zinc's total contribution to the exchequer stood at Rs 13,195 crores, the Vedanta group firm said in a regulatory filing. With this, HZL's cumulative contribution to the exchequer over the past five years stood at Rs 77,803 crore. "As our businesses grow, so will these numbers. At Hindustan Zinc, we are committed to continuing to do business with a purpose in a manner that is sustainable, transparent and creates value for all our stakeholders," Hindustan Zinc Chairperson Priya Agarwal Hebbar said. Over the past five years, that company has consistently contributed an average of approximately Rs 3,250 crore per year to Rajasthan in the form of royalties, contributions to the District Mineral Foundation (DMF), and other levies. "This substantial contribution underlines

Vedanta's Hindustan Zinc contributes Rs 13,195 cr to exchequer in FY24
Updated On : 15 Jul 2024 | 4:15 PM IST

Hindustan Zinc releases report on nature-related risks, climate change

Vedanta group firm Hindustan Zinc Ltd on Monday said it has released a report that helps in identifying nature-related risks and assists the company in creating sustainable strategies to tackle climate change. The Taskforce on Nature-related Financial Disclosures (TNFD) report outlines nature-related dependencies, impacts, risks and opportunities and allows for an assessment of the company's direct operations and upstream critical supply chain on nature, it said. It helps in identifying nature-related risks and assists the company in creating sustainable strategies, which is based on the dual approach of mitigating and adapting towards climate change, Hindustan Zinc said in a statement. "The launch of the country's first TNFD report underscores our commitment to responsible nature conservation. We are actively pursuing decarbonization and environment conservation efforts, as evidenced by our nature protection initiatives. By integrating sustainability into every aspect of our ...

Hindustan Zinc releases report on nature-related risks, climate change
Updated On : 08 Jul 2024 | 9:54 PM IST