500% Dividend Approved: Vedanta Stock Jumps 25% In 2-Weeks; Check Buy/Sell, Eligibility

Vedanta Limited's subsidiary Hindustan Zinc Ltd (HZL) shares are maintaining unstoppable rally. Today, the scrip soared 15.68% to settle at Rs 527.60 per share. Today Hindustan Zinc share hit fresh 52-week high as the stock witnessed a spurt in volume by more than 3.02 times. The company has a market capitalisation of Rs 2,22,927.83 crore. The PE of Hindustan Zinc is 28.63 and ROE is 51.12.

The key factors that can be attributed behind the sharp rally in Hindustan Zinc shares include recent jump in silver prices and buoyancy around increased industrial usage of the metal. The rally in zinc prices have led to the surge in Hindustan Zinc Ltd shares.
Commodity prices on London Metal Exchange jumped more than 2% to $2,955 amid positive China trade data which highlighted growth imports and exports in April.

Positive data from China highlighted a rebound in domestic as well as global demand that augured well for zinc prices as the country is big consumer and producer of the metal. More details below:

Should You Buy Or Sell Hindustan Zinc Ltd Shares? According to data available at Trendlyne, out of a total of 12 analysts tracking Hindustan Zinc shares, 1 recommended buy, 4 suggested hold call, 2 gave sell rating, and 5 gave sell call.
Hindustan Zinc Dividend: According to the BSE filing of the company dated May 7, 2024, "we wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Tuesday, May 07, 2024, consented by majority of directors at 11:00 am, approved the Interim Dividend of Rs. 10/- per equity share i.e. 500% on face value of Rs. 2/- per equity share for the Financial Year 2024-25 amounting to Rs. 4,225.32 Crores."

The record date for the purpose of payment of interim dividend, as already communicated is Wednesday, May 15, 2024 and the Interim Dividend shall be duly paid within the stipulated timelines as prescribed under law, the BSE filing added.

Hindustan Zinc Share Performance: The 52-week high price of Hindustan Zinc stock is Rs 540.85 per share (as on 10/05/2024) and 52-week low price is Rs 285.00 per share (as on 15/03/2024), respectively. Hindustan Zinc shares surged 31% in last 1-month, soared 69% in 3-months time, rose 75% in 180 days, and rallied 68% in last 1-year span. Meanwhile, promoters holding remains unchanged at 64.92% in March 2024 quarter. FII/FPI have decreased holdings from 0.69% to 0.60% in March 2024 quarter. Lici Ulip-Growth Fund has 2.78% stake in Hindustan Zinc with 117,278,499 shares of the company.

How To Be Eligible To Receive Hindustan Zinc Dividend? Record date remains crucial role in determining eligibility of shareholders for receiving dividend. Individuals whose name appear in company's shareholders record as on the record date will become eligible to receive bonus share announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. In the case of Hindustan Zinc, the record date is May 15.

Hindustan Zinc Dividend History: Hindustan Zinc announced 41 dividends since June 28, 2001. In the past 12 months, Hindustan Zinc announced an equity dividend amounting to Rs 13.00 per share. At the current share price of Rs 449.75 per share, Hindustan Zinc Ltd offers a dividend yield of 2.47%.

Hindustan Zinc Bonus Share History: Hindustan Zinc offered 1 bonus issue since March 7, 2011. The last Bonus that Hindustan Zinc Ltd declared was in the ratio of 1:1 with ex-date set as March 7, 2011.

Hindustan Zinc Stock Split History: Hindustan Zinc split face value of its share once since March 7, 2011. Hindustan Zinc last split the face value of its shares from Rs 10 to Rs 2 in 2011. The share traded ex-split from March 7, 2011.

Hindustan Zinc Ltd About: Hindustan Zinc is India's largest and world's second largest integrated zinc producer. It is the 5th largest silver producers globally with an annual capacity of 800 MT. It is a subsidiary of Vedanta Limited which owns 64.9% stake in the Company while the Government of India retains a 29.5% stake. Hindustan Zinc's operations comprise lead-zinc mines, hydrometallurgical zinc smelters, lead smelters, pyro metallurgical lead-zinc smelter as well as sulphuric acid and captive power plants in northwest India, according to its official website.

Disclaimer: The stock highlights the dividend and rally in shares. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor before taking investment decisions.