Hindustan Zinc shares are in focus today as the company plans to hold a board meeting on March 10 to discuss raising funds through the private placement of listed non-convertible debentures.
After closing at Rs 395.40 on Wednesday, Hindustan Zinc's stock increased 4.03 percent to Rs 411.35 on the BSE. At Rs 398.50, the large-cap stock opened higher.
The stock of Hindustan Zinc is currently trading below the 20-, 30-, 50-, 100-, and 200-day moving averages, but above the 5- and 10-day moving averages.
The stock has decreased 7.41 percent since the beginning of this year and increased 33.17 percent in a single year.
The market value of the company increased to Rs 1.79 lakh crore. On May 22, 2024, the stock hit a 52-week high of Rs 807.90, and on March 15, 2024, it fell to a low of Rs 285.
"We hereby inform you that a meeting of the Company's committee of directors ("Committee") is scheduled to be held on Monday, March 10, 2025, to consider and evaluate proposals for raising funds through the issue of listed non-convertible debentures on a private placement basis, subject to market conditions. The proposed issuance is subject to the Company's borrowing limits and any required approvals from stock exchanges and other regulatory/governmental authorities. This proposal is in accordance with the Board of Directors' resolution passed on January 28, 2025," Hindustan Zinc stated.
