HZL News

Vedanta Group firm Hindustan Zinc (HZL) on Wednesday announced a special dividend of Rs 13,985 crore for 2016-17, taking the aggregate amount paid by it for the fiscal to Rs 27,157 crore, the largest such payout by any company in the country.

 Shares of Hindustan Zinc surged up to 14 percent today after the company announced that it will pay highest ever dividend of Rs 10,141 crore, including Rs 3,000 crore to the government, to its shareholders for the 2015-16 fiscal.

Hindustan Zinc Ltd (HZL) Thursday reported a 24 percent decline in net profit at Rs 1,811 crore for the December quarter, hurt mainly by higher expenses and subdued prices.

Vedanta Group firm Hindustan Zinc Ltd (HZL) Monday reported a 19 percent growth in its net profit at Rs 1,921 crore for the first quarter ended June 30, 2015, helped by higher volume and rupee depreciation.

The firm, in which billionaire Anil Agarwal-led Vedanta has a majority stake, added that closure of zinc mines across the world has led to a stronger price outlook for the metal in the medium term.

Hindustan Zinc Monday clocked a 38 percent rise in net profit in the October-December quarter at Rs 2,379 crore on higher zinc, lead and silver sales.

Banking on Modi government's determination to go ahead with disinvestment drive, Vedanta Resources chief Anil Agarwal said the company expects to pick up residual stakes in Hindustan Zinc and BALCO at "market driven value" soon.

Hindustan Zinc today said its CEO Akhilesh Joshi has been appointed as the Vice Chairman of the Brussels-based International Zinc Association (IZA).

CBI has referred to the Attorney General its findings in the inquiry related to alleged irregularities in the disinvestment of Hindustan Zinc Ltd (HZL) during the period of NDA government in 2002, sources in the investigating agency said Tuesday.

Vedanta group, which holds majority stake in Hindustan Zinc Ltd, Tuesday said it would bid for the government's residual stake in HZL and is a "big contender" for it.

Twelve years after the government sold its stake in Hindustan Zinc Ltd (HZL) to Vedanta group during the previous NDA rule, a PIL has been filed Wednesday in the Supreme Court seeking quashing of the deal.

The government is likely to sell its residual stake in Hindustan Zinc for an estimated Rs 20,000 crore through an Offer For Sale, and is in final stages of discussion with market regulator SEBI for changes in the OFS norms.