The shares of Hindustan Zinc jumped more than 8 percent to a fresh record high on December 12, leading gains among the metals pack.
The shares of the Vedanta Group-company hit a new 52-week high of Rs 566.70 apiece today. The stock has now risen nearly 16 percent in just four consecutive sessions of gains.
The recent surge in Hindustan Zinc shares was mostly driven by the sharp rise in silver prices. Silver prices scaled new record highs today, as futures with March expiry crossed the Rs 2 lakh-mark for the first time ever today.
Earlier this week, silver crossed the $60-milestone mark for the first time in the spot market.
Hindustan Zinc is the largest producer of silver in India, and produces refined silver with a minimum 99.9 percent purity. The sharp rise in the bullion's prices is expected to further boost the stock.
The stock is accompanying its metal peers after Chinese leaders have promised to maintain "proactive" fiscal policy next year to stimulate consumption and investment to maintain high economic growth. The prospect of fiscal stimulus could ease worries over the slowdown seen in the second half of 2026 in almost every area of the economy that is not contributing to China's trillion-dollar trade surplus.
Pro-growth policies in China are a positive for metal demand and pricing since China is the top producer as well as consumer of the commodity.
Weak US dollar has been supporting metal stocks too.
Hindustan Zinc has delivered a strong weekly breakout attempt, reclaiming the 540–550 resistance zone with a solid bullish candle and rising volume, said Drumil Vithlani, Technical Research Analyst at Bonanza.
"The price structure has been forming higher lows since early 2025, indicating steady accumulation after a prolonged corrective phase. The stock is trading above the 20W and 50W EMAs, showing improving medium-term strength. RSI at 66 reflects healthy bullish momentum without being overextended yet. A sustained close above 555–560 can confirm a breakout toward 600, followed by 640 as the next positional target. On the downside, the 500–510 zone acts as strong support, and the overall structure remains positive as long as this level holds," the analyst added.
The shares of the company have jumped nearly 13 percent in the past five days, and more than 16 percent in the past one month. The stock has surged nearly 27 percent in 2025 so far.
After hitting a 52-week low of Rs 378.15 per share in March this year, the stock rebounded nearly 50 percent in nine months to its new record high level today.
However, the stock is still around 61 percent lower than its all-time high level of Rs 1,443 per share, which it had hit in January 2011.
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