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Govt to take decision on Hindustan Zinc OFS after testing market: Mines Secretary
Money Control
·
1y ago
Medial
The Indian government is considering selling its stake in Hindustan Zinc through an offer for sale (OFS) after testing the market, according to Mines Secretary V L Kantha Rao. The government currently owns a 29.54% stake in the Vedanta group firm. The decision comes after the mines ministry rejected Hindustan Zinc's demerger plan. The company had planned to spin off its businesses into separate entities to increase its market capitalisation. The government was given permission by the Supreme Court in 2021 to disinvest its remaining stake in Hindustan Zinc in the open market.
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Government rejects Vedanta-controlled Hindustan Zinc's plan to split company
VCCircle
·
1y ago
Medial
The Indian government has rejected Hindustan Zinc's plan to split the company into separate units, stating that it is not convinced that this move would benefit shareholders. Hindustan Zinc, a company controlled by Vedanta, had proposed creating separate entities for its zinc, lead, silver, and recycling businesses, but did not consult with the government. The government, which holds a nearly 30% stake in Hindustan Zinc, has raised objections and questioned the rationale behind the split. Hindustan Zinc's CEO believes that the split would enhance the company's market capitalization.
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Hindustan Zinc’s expansion plan fails to impress as near-term growth stalls
Livemint
·
1m ago
Medial
Hindustan Zinc's ₹35,000-crore expansion plan aims to increase capacity and reduce costs. However, uncertainties about lease renewals for three mines, accounting for 65% of production, along with muted volume growth and declining zinc prices, have left investors skeptical. The stock fell by 9% following the promoter group's share sale. While the company maintains a healthy balance sheet, questions arise about future dividend payouts amidst the ambitious expansion strategy.
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Hindustan Zinc Shares Soar Over 5% Ahead of Board Meeting to Discuss Dividend Proposal
OutlookIndia
·
2m ago
Medial
Hindustan Zinc shares rose over 5% on anticipation of the company's board meeting discussing the first interim dividend for FY26. The meeting is scheduled for June 11, 2025, with the record date for eligible shareholders set for June 17, 2025. The share price increase aligns with a double-digit rise in the company's stocks this year and a surge in silver prices. Hindustan Zinc is a leading zinc and silver producer in India.
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Hindustan Zinc Signs MoU With Raj Govt for Crocodile
OutlookIndia
·
2m ago
Medial
Hindustan Zinc has signed a Memorandum of Understanding (MoU) with Rajasthan's forest department to invest Rs 5 crore in the Crocodile Conservation Reserve at Baghdara Nature Park, Udaipur. The project aims to enhance the natural habitat for crocodiles, implement water conservation measures, and boost visitor infrastructure for sustainable eco-tourism. Key initiatives include habitat restoration, construction of pathways and visitor facilities, and environmental education, benefiting both conservation efforts and the local economy.
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Indian govt reverses its decision on laptop import restriction
IndianStartupNews
·
1y ago
Medial
The Indian government has decided not to impose restrictions on laptop imports, according to Trade Secretary Sunil Barthwal. This decision comes after facing criticism from industry players, citizens, and the US government. Previously, the government had announced plans to impose restrictions on the import of laptops, tablets, and personal computers. However, following consultations with the industry, a new order on laptop imports will be announced by the end of October.
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HZL seeks Indian partner to set up manufacturing plant for zinc-based batteries
Livemint
·
1y ago
Medial
Hindustan Zinc Ltd (HZL) is seeking domestic partners to establish manufacturing plants in India for the production of zinc-based batteries. The company aims to reduce dependency on critical minerals and explore alternative energy storage solutions. HZL has entered into a strategic partnership with US-based AEsir Technologies to develop zinc-nickel batteries. Described as safer and cheaper than lithium-ion batteries, the company is looking for investors to put up mega factories for zinc battery production, contributing to India's self-reliance in battery solutions. HZL recently reported a 19.39% YoY increase in consolidated net profit for Q1 FY22.
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Hindustan Zinc gets over ₹91 crore GST demand, Company plans legal challenge
Livemint
·
1y ago
Medial
Hindustan Zinc Limited (HZL), a subsidiary of Vedanta Ltd, has been ordered by the Central Excise and CGST Commissionerate to pay ₹91.9 crore in GST along with penalty and interest. The company plans to challenge the order in the High Court. Furthermore, HZL's restructuring plan to create separate entities for silver and zinc may be put on hold as the government, which holds a 29.54% stake in the company, is hesitant about the proposal. HZL is a leading producer of zinc, lead, and silver.
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Gainers & Losers: Stocks that moved the most on August 16
Money Control
·
11m ago
Medial
Benchmark indices Nifty and Sensex closed the week on a positive note, driven by hopes of a US Federal Reserve rate cut. Hindustan Aeronautics reported satisfactory Q1 results, boosting investor confidence. Hindustan Zinc shares plunged as promoter Vedanta Ltd divested stake. Suprajit Engineering saw a 15.6% surge in its shares after announcing a share buyback. Ola Electric Mobility received a 'Buy' rating and Mahindra & Mahindra's new vehicle launch gained analysts' confidence. Paras Defence and Space Technologies secured a significant order, while RHI Magnesita India reported strong Q1 results. Nifty IT surged, while Max India suffered losses.
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How Vedanta's debt burden turned Hindustan Zinc into a net-debt company
Livemint
·
1m ago
Medial
Hindustan Zinc Ltd (HZL), once a net-cash company, now faces increased debt due to Vedanta's significant dividend withdrawals to avoid default, affecting its financial stability. While HZL’s core operations remain strong, this financial shift raises concerns about long-term governance. Despite assurances from Vedanta's promoter Anil Agarwal against defaulting, the heavy cash requirements highlight ongoing pressures on the company's fiscal health, influencing perceptions of stability within its market segment.
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Hindustan Zinc dispute: Vedanta parent moves Permanent Court of Arbitration against Indian govt | Company Business News
Livemint
·
9m ago
Medial
UK-based company Vedanta Resources Ltd has initiated arbitration proceedings against the Indian government at the Permanent Court of Arbitration (PCA) over a mining rights dispute. The arbitration, under the India-UK bilateral investment treaty, raises concerns over foreign investment in India's mining sector. The disagreement stems from Vedanta's bid to acquire the government's stake in mining company Hindustan Zinc, which was rejected by Indian authorities. The arbitration began in October, and former Indian supreme court judge V Ramasubramanian is among the arbitrators. The seat of arbitration is in Switzerland.
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