Shares of Hindustan Zinc jumped

Shares of Hindustan Zinc jumped 3.5 percent intraday on Tuesday after it posted December quarter earnings. Its third quarter profit jumped 38.1 percent year-on-year to Rs 2,379 crore driven by other income. The bottomline and operational performance was ahead of expectations but revenue lagged estimates.



Macquarie maintains outperform rating on the stock with a target price of Rs 202 per share, stating the company has taken measures to offset the slower ramp up of production from underground mines which augurs well for FY16.



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Posted in: Indian Market Tips