Brokerages are mixed on Hindustan Zinc after its December quarter results, with analysts cheering the company’s strong operating performance, but turning cautious on rich share valuations.
The stock rose 2.9% to ₹680.5 on Tuesday following the third-quarter performance. Price targets from Kotak and Nuvama imply a potential downside of about 21% and 13%, respectively, from Tuesday’s close, while Motilal Oswal’s target suggests an upside of around 6%. HSBC and Jefferies see room for gains of about 10% from current levels.
ET Bureau