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Feb 15, 2017, 03.39 PM | Source: Moneycontrol.com

Accumulate Hindustan Zinc; target of Rs 360: Prabhudas Lilladher

Prabhudas Lilladher has recommended accumulate rating on Hindustan Zinc with a target price of Rs 360 in its research report dated February 13, 2017.

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Accumulate Hindustan Zinc; target of Rs 360: Prabhudas Lilladher

Prabhudas Lilladher has recommended accumulate rating on Hindustan Zinc with a target price of Rs 360 in its research report dated February 13, 2017.

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, Prabhudas Lilladher |


Prabhudas Lilladher's research report on Hindustan Zinc

Hindustan Zinc (HZ) reported Q3FY17 earnings in‐line‐with our expectation on the back of lower costs. In line with our expectation, Zinc prices turned out to be the best perfomer in Base metals pack with a rise of ~25% YoY (FYTD) to US$2300.

Outlook

We factor in an increase of 15% in FY18 LME zince average on the back of continued deficit coupled with closure of large mines (due to depletion in reserves) amd ageing life cycle of mines. Driven by strong outlook on Zinc and quality assets, we maintain “Accumulate” with TP of Rs 360, P/E of 15x FY19E.

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Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

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