Spark Private Wealth Management (PWM) on Thursday said its assets under management (including advisory) has crossed the Rs 25,000 crore mark
The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25
Hindustan Zinc appoints Hugo Schumann as head of silver division to intensify focus on the white metal
Vedanta group firm Hindustan Zinc on Thursday said it has become the third largest producer of silver globally. As per a survey, its Sindesar Khurd Mine in Rajasthan now stands as the world's second largest silver-producing mine, moving up from last year's fourth spot, the company said in a statement. Silver plays a pivotal role in the global energy transition and Hindustan Zinc's production growth of 5 per cent year-on-year is attributed to increased ore production and enhanced grades, reinforcing its status as a key player in the global silver market, Hindustan Zinc Chairperson Priya Agarwal Hebbar said. Hindustan Zinc, a Vedanta Group company in zinc, lead and silver businesses, is the world's second largest integrated zinc producer and now the third largest silver producer. The company has a market share of 75 per cent of the growing zinc market in India with its headquarters in Udaipur along with zinc, lead mines and smelting complexes spread across Rajasthan.
Hindustan Zinc Ltd (HZL) on Friday posted a 6 per cent decline in consolidated net profit to Rs 2,028 crore during the quarter ended December 2023, dragged by lower income. It had clocked Rs 2,156 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. On a quarter-on-quarter basis, the profit grew 17 per cent as against Rs 1,729 crore in the July-September quarter. During the quarter under review, the company's total income reduced to Rs 7,606 crore from Rs 8,214 crore a year ago. Its expenses were Rs 4,937 crore as against Rs 5,028 crore in the year-ago period. Hindustan Zinc is the world's second largest integrated zinc producer and fifth largest silver producer. The Udaipur-based company holds about 80 per cent of the growing zinc market in the country.
Strains in China are particularly evident, where factory-gate prices rose at the fastest pace in almost 26 years in September
With regard to iron ore business it said that there was no production at Goa due to suspension of mining operations.
In a Q&A, Arun Mishra talks about the company's focus lowering cost of production amid the ongoing pandemic and likely impact on demand
Topline stood at Rs 6,725 crore, up 56% from a year ago, on strong zinc, lead and silver sales
Shares of firms in this space up 50-198% since November 2020; global demand for copper and aluminium outstrips supply, pushing spot prices higher than futures
Rebounding zinc and firm silver prices will add to gains from rising production
With volume growth expected to be soft in FY21, higher base metal prices are crucial for upgrades
Covid-19 outbreak drags aluminium prices by 16%, zinc by 23%, copper by 20%
Ongoing US-China trade war weighing on prices even as production declines by 1.1% y-o-y in Jan-Jun, while consumption grows by 2.3% in the same period
Metal for delivery in September contracts traded higher by 90 paise or 0.60%
Metal for delivery in August edged up by 50 paise, or 0.34%
Metal for delivery in July contracts shed 45 paise, or 0.30%
Speculators created fresh positions on pick-up in demand from consuming industries at the spot markets
Moreover, muted demand from consuming industries in the spot market fuelled the downtrend
Metal for delivery in July traded lower by Rs 1.65 or 1.18%