Hindustan Zinc share price jumps 4.5% as silver hits record high; Vedanta also up 1%

News reports said that spot silver climbed 4.3% to $60.74 per ounce, hitting an all-time high.

The main reason behind the spurt in silver prices is supply constraints.

Back home, in the early trading on the MCX on Wednesday, silver futures, having an expiry date of March 5, 2026, hit a lifetime high of ₹1,90,488 per kg.

Why are silver prices rallying?

According to analysts quoted by leading news websites, investors expect strong industrial demand for silver in the years ahead, which has driven prices higher. They note that buying momentum remains strong.

According to a research report by the Silver Institute, sectors such as solar energy, electric vehicles and related infrastructure, as well as data centres and artificial intelligence, are set to push industrial demand upward through 2030.

Silver prices are also being bolstered by persistently tight supplies and shrinking global inventories, expectations of Federal Reserve rate cuts, and the metal’s recent inclusion on the U.S. critical minerals list.

Top silver stocks in India

Some of the key silver stocks include Hindustan Zinc (HZL), and Vedanta.

Hindustan Zinc

Hindustan Zinc is one of the world’s leading integrated silver producers. It produces refined silver, recovered as a by-product of a zinc-lead facility. Our high-quality silver bullion, having a minimum purity of 99.9% of silver, is listed on the LBMA Good Delivered List (LGD) – Hindustan Zinc Pantnagar Unit.

"We supply silver in the following forms:

• Standard 30 kg bars

• 1 kg bars

• Silver Powder", the company says on its website.

Hindustan Zinc shares jumped 4.5% to ₹513.80 apiece on the NSE, while Vedanta Ltd stock rallied as much as 1.23% to ₹522.50.

Hindustan Zinc is an arm of Vedanta Limited.