Hindustan Zinc's third quarter profit after tax is expected to jump 24.2 percent year-on-year to Rs 2,140 crore, according to the average of estimates of analysts polled by CNBC-TV18. Analysts expect higher other income led by mark-to-market gains on debt instruments.
Revenue is seen going up 15.6 percent year-on-year to Rs 3,988 crore while operating profit may jump 11.9 percent to Rs 2,040 crore but margin may fall 170 basis points to 51.2 percent in the quarter gone by.
Key trigger-Government’s stake sale in Hindustan Zinc remains a key near-term trigger-Progress on acquisition of 29.5 percent stake in company by Sesa Sterlite will drive the stock-Vedanta’s current offer is Rs 145/share-Low liquidity in the market as GOI and Vedanta jointly hold 95 percent stake Base metal LME prices have decreased sequentially in December quarter:-Zinc LME was down 2-3 percent Q-o-Q but up 18 percent Y-o-Y-Lead LME was down 8.2 percent Q-o-Q and down 5 percent Y-o-Y-Decline in domestic realization could be cushioned by a marginally weaker rupee Mined metal production is expected to jump around 10 percent Y-o-Y-Zinc production is expected to be flat Y-o-Y since major mined metal production was in December-Mined metal production will increase from the Rampura Agucha open-cast mine led by higher waste mining in previous quarters-Lead and silver production are expected to grow 20 percent and 16 percent, respectively due to custom smelting
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
