Hindustan Zinc share price jumps 3% as board to consider fundraising via NCDs

At 10:27 AM, shares of the company were trading at ₹423.20 per share, advancing 2.91%.

“…we hereby inform you that a meeting of the committee of directors of the company (‘Committee”) is scheduled to be held on Monday, March 10, 2025, inter alia, 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 company said in a statement to the stock exchanges.

This proposal follows the resolution passed by the Board of Directors at its meeting held on January 28, 2025.

The stock has gained over 5% over the last five trading sessions. For a one-year period, that is from March 6, 2024, the scrip has rallied up to 38%.

Its market capitalisation stood at ₹1.79 lakh crore.

Meanwhile, the Vedanta group firm on Wednesday said it is on track to achieve 30% women representation by 2030. At present, Hindustan Zinc has over 25% women in the workforce.

Hindustan Zinc had reported a 32% rise in consolidated net profit at ₹2,678 crore for the quarter ended December 31, 2024, on the back of higher income. The company had posted a net profit of ₹2,028 crore in the year-ago period, Hindustan Zinc said in a regulatory filing.

The consolidated income of the company in the October-December period rose to ₹8,832 crore, jumping 16.12% YoY from ₹7,606 crore in the year-ago period.

The total expenses of the company during the third quarter rose to ₹5,305 crore, from ₹4,937 crore in the corresponding quarter of the previous fiscal.

As of December 31, 2024, the company had healthy gross investments and cash and cash equivalents of ₹8,153 crore invested in high-quality debt instruments. Total borrowings outstanding as of December 31, 2024, were ₹12,270 crore.