Hindustan Zinc share price extend gains after Q3 results. Should you buy, sell or hold?
Hindustan Zinc share price rose by about 1% during the Saturday trading session as analysts reported that the Vedanta Group company's Q3 earnings were in line with street projections. On Friday's session post the Q3 results, Hindustan Zinc shares jumped over 4%.
Hindustan Zinc share price today opened at ₹317.90 apiece on the BSE. “Hindustan Zinc shares have been consolidating in a broad range of ₹290–340 since the last few weeks.
This short-term trend is sideways in the stock, and a trended move could be seen only on a breakout from this range," said Ruchit Jain, Lead Research Analyst at 5paisa. In the quarter that ended in December 2023, Hindustan Zinc reported a 6% decrease in consolidated net profit to ₹2,028 crore, mostly due to reduced income.
In October-December of the previous fiscal year, 2022–2023—the company reported a net profit of ₹2,156 crore. The company's net profit increased 17% on a quarter-over-quarter (q-o-q) basis compared to ₹1,729 crore in the July-September period.
The company's total income decreased to ₹7,606 crore during the reviewed quarter from ₹8,214 crore the previous year. "Exciting news! Mint is now on WhatsApp Channels
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