The shares of Hindustan Zinc, a leading mining company and silver producer, have jumped over 8% to a fresh record high of Rs 566.70 per share. This surge has led to gains in the metals pack, with the stock rising nearly 16% in just four consecutive sessions.
The recent increase in Hindustan Zinc shares is largely driven by the sharp rise in silver prices. Silver futures have crossed the Rs 2 lakh-mark for the first time, and silver prices have also crossed the $60 milestone in the spot market. As the largest silver producer in India, Hindustan Zinc is expected to benefit from the rising silver prices.
Chinese leaders have promised to maintain a proactive fiscal policy to stimulate consumption and investment, which is expected to boost metal demand and pricing. Additionally, a weak US dollar has been supporting metal stocks. This combination of factors has led to a positive outlook for Hindustan Zinc and other metal companies.
According to Drumil Vithlani, Technical Research Analyst at Bonanza, Hindustan Zinc has delivered a strong weekly breakout attempt, reclaiming the 540-550 resistance zone. The stock is trading above the 20W and 50W EMAs, showing improving medium-term strength. The RSI at 66 reflects healthy bullish momentum without being overextended yet.
The shares of Hindustan Zinc have jumped nearly 13% in the past five days and over 16% in the past one month. The stock has surged nearly 27% in 2025 so far, rebounding nearly 50% in nine months to its new record high level. However, the stock is still around 61% lower than its all-time high level of Rs 1,443 per share, which it had hit in January 2011.
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