Mining major Vedanta is selling 1.59% of its stake in the subsidiary, Hindustan Zinc. In an exchange filing, the company said it will offload 6,70,00,000 equity shares of Hindustan Zinc through an offer for sale on the stock exchange mechanism.
The 6,70,00,000 equity shares of Hindustan Zinc, about 1.59 per cent of Vedanta’s stake, are valued at about Rs 4,872 crore or $531.3 million. Vedanta has not disclosed the floor price at which it would sell the shares.
As of the end of the December quarter, Vedanta held a 61.84% stake in Hindustan Zinc. The Indian government is Hindustan Zinc’s second-largest shareholder, with a 27.92% stake.
Hindustan Zinc Q3 results
Hindustan Zinc reported a 46.2% year-on-year (YoY) rise in consolidated net profit to Rs 3,916 crore in Q3FY26 from Rs 2,678 crore reported in Q3 FY25.
The company reported a consolidated income of Rs 11,273 crore during Q3 FY26, as against Rs 8,832 crore reported a year earlier during the same quarter. The rising silver prices has aided the margins for the company during the quarter.
Hindustan Zinc- Vedanta Share price
Hindustan Zinc’s stock closed at Rs 726.50 on Tuesday, 3.98 per cent higher in the intra-day trade. In the last 5 trading sessions, the zinc and silver majors’ stock has risen by 8.10 per cent.
Hindustan Zinc’s stock has been on a consistent upward movement in the last 1 year. The company’s share price has increased by 17.4% in the last one month and 68.15%in the last six months. In the last one year, Hindustan Zinc’s stock has grown by 61.4%.
Hindustan Zinc’s parent company, Vedanta, has also recorded a similar stock price growth in the last one year. In the past one year, Vedanta’s stock has grown by 66.7%.
On Tuesday, Vedanta’s stock closed at Rs 706.95, 3.33 per cent higher in the intra-day trade. In the last five trading sessions, the mining major’s share price has increased by 3.3%.