Now Reading: Jefferies raises Hindustan Zinc target to Rs 750, sees 31% return
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Jefferies raises Hindustan Zinc target to Rs 750, sees 31% return
Jefferies raises Hindustan Zinc target to Rs 750, sees 31% return
Jefferies has raised its target price for Hindustan Zinc Ltd to Rs 750 per share, implying a total shareholder return of 31% from current levels. The brokerage cited stronger zinc and silver…
Jefferies has raised its target price for Hindustan Zinc Ltd to Rs 750 per share, implying a total shareholder return of 31% from current levels. The brokerage cited stronger zinc and silver prices as key drivers. It also cut its outlook on Hindalco Industries Ltd, citing weaker aluminium prices.
Hindustan Zinc shares closed at Rs 572.55 on Tuesday, while Hindalco ended at Rs 654.50 on the NSE. Jefferies set a target price of Rs 700 for Hindalco, which offers an implied upside of about 7%. The brokerage did not change its rating on either stock.
Indian Opinion Analysis
Jefferies’ upgrade on Hindustan Zinc highlights a broader metals sector trend where zinc and silver prices have outperformed aluminium in recent quarters. Mining analysts track LME spot prices closely, zinc has rallied on supply constraints from Chinese smelter cuts while aluminium faces demand headwinds from global industrial slowdown. For Hindustan Zinc, the stock has rallied 45% in the past year against Hindalco’s 15% decline, widening the valuation gap. Investors will watch LME three-month zinc prices sustain above $2,800 per tonne and silver’s industrial demand trajectory to validate the broker’s 31% return call. The next trigger is Hindustan Zinc’s Q3 results due January 2025.
Source: ndtvprofit.com
This brief was synthesised by AI from the source linked above.
