Hold Hindustan Zinc: target of Rs 340: ICICI Direct

ICICI Direct's research report on Hindustan Zinc

Hindustan Zinc (HZL) is one of the world’s largest and India’s only integrated producer of zinc-lead and silver.World’s second largest zinc-lead miner and one of the lowest-cost producers of zinc globally HZL is the largest primary zinc producer in India, with 77% market share including alloys and 80% market share without alloys

Outlook

We retain our HOLD rating on the stock  We value HZL at Rs 340 i.e. 7x FY23E EV/EBITDA