Why Hindustan Zinc Share Price is Rising

Metal stocks have been among the most actively tracked names in recent sessions.

As of 23 December 2025, the Nifty Metal index has logged gains in nine of the last ten trading sessions.

The rally in metal stocks has been driven by a supportive global macro environment rather than a single trigger.

Factors such as expectations of US Fed rate cuts, policy support from China, tight supply conditions, a softer US dollar, and a broad upswing in commodity prices have collectively lifted sentiment.

Amid this broader rally, Hindustan Zinc has stood out. The stock surged over 23% intraday, hitting a fresh 52-week high of Rs 632. Here's what's driving the sharp move.

# Silver Price Hits New High

Shares of Hindustan Zinc climbed 3.6% to an intraday high of Rs 632 on the BSE on Wednesday, December 24, tracking a sharp rally in silver prices, which crossed the $72 per ounce mark for the first time.

Silver has delivered a strong performance in 2025, rising over 140% year-to-date and outperforming most asset classes. The surge has been driven by robust industrial demand, safe-haven buying, and tight global supply conditions. In India, MCX silver futures also touched fresh records, hitting an all-time high of Rs 2,20,490 per kg.

The rally has pushed silver beyond its previous inflation-adjusted peak of 1980, supported by rising consumption from solar power, electric vehicles, and electronics, along with heightened investor interest amid geopolitical uncertainties and expectations of a softer US monetary policy stance in 2026.

Hindustan Zinc is India's only integrated and listed silver-producing company. It is also the operator of one of the top five silver-producing mines in the world. The company produces around 700 tonnes of silver annually, making it a key contributor to overall profitability.

As of Q1FY26, silver accounted for 41.5% of total profit, a share that remained largely stable at 40-41% in Q2FY26.

This positions the company as a key beneficiary of the ongoing strength in silver prices.

What Next?

Hindustan Zinc's FY2026 guidance underscores its focus on sustainable and cost-efficient growth.

The company expects mined metal production of 1,125 ktpa (±10) and refined metal production of 1,075 ktpa (±10), along with silver output of around 680 metric tonnes (±10). On the cost front, zinc's cost of production is guided at around US$1,000 per tonne, reflecting operational efficiency.

To support future growth, the company has outlined a growth capex of US$350-400 million, aimed at capacity expansion and long-term value creation.

How shares of Hindustan Zinc have performed recently

Over the past month, Hindustan Zinc shares have gained more than 8%, rising from around Rs 579 to an intraday high of Rs 632 on 24 December 2025.

The stock touched its 52-week high of Rs 632 on 24 December 2025 and its 52-week low of Rs 378.6 on 3 March 2025.

About Hindustan Zinc

Hindustan Zinc is an India-based energy transition metals company.

The company is engaged in exploring, extracting and processing of minerals and manufacturing of metals and alloys.

Its segments include zinc, lead and silver, and wind energy.

Its operations include five zinc-lead mines, four zinc smelters, one lead smelter, one zinc-lead smelter, eight sulfuric acid plants, one silver refinery plant, six captive thermal power plants and four captive solar plants in the state of Rajasthan.

It has expanded its critical minerals portfolio with two mineral blocks - one for potash and halite and the other for rare earth elements.

To know more, check out Hindustan Zinc's fact sheet and latest quarterly results.

You can also compare Hindustan Zinc with its peers

Hindustan Zinc vs Vedanta

Hindustan Zinc vs Hindalco

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Happy Investing.

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