Hindustan Zinc scrip rises to 649.75 on Q4 numbers

Mumbai, Apr 25: Hindustan Zinc Ltd's scrip rose to Rs 649.75, or 2.48 per cent, on Bombay Stock Exchange (BSE) today after its net profit reportedly surged by 36.68 per cent to Rs 1,278 crore in fourth quarter ended March 31.

The company's total income also surged to Rs 2,592 crore, or 23.72 per cent, during the period.

On BSE, 822 shares were traded in the counter. The scrip had an average daily volume of 39,240 shares in the past one quarter.

The stock hit a high of Rs 649.75 and a low of Rs 642 so far during the day. Earlier, on October 18 last year, it had reported a high of Rs 969, while it hit bottom of Rs 501 on April 7 this year, a leading broker said.

The company's current equity is Rs 422.53 crore. Face value per share is Rs 10.

The current price of Rs 649.75 discounts its Q4 March 2008 EPS of Rs 120.85, by a PE multiple of 5.38.

Hindustan Zinc's net profit declined 1.04 pc to Rs 4,396 crore on 0.70 per cent fall in total income to Rs 8,729 crore in FY 2008 over FY 2007.

Yesterday, the company slashed zinc prices by 2.3 per cent to Rs 1.02 lakh per tonne. It also cut lead prices by 2.2 per cent to Rs 1.25 lakh a tonne, brokers added.

UNI