📈Technical Analysis
Since 2020, Hindustan Zinc rose from ₹130–₹150 to ₹380–₹400 by 2021, and this ₹380–₹400 zone acted as a major resistance level throughout 2022 and 2023.
In April 2024, the stock broke out above the ₹380–₹400 resistance zone and surged to an all-time high of ₹807 in May 2024.
From that peak, the stock experienced a sharp correction of nearly 50% and dropped back to the ₹380 level. However, the same ₹380–₹400 zone, which previously acted as strong resistance, has now turned into a solid support zone, as seen in March, April, and May 2025.
Taking support from this demand zone, the stock rebounded sharply and broke its recent lower high, supported by a significant trading volume of 15.5 million shares — the highest volume recorded in the past nine months.
If this bullish momentum continues, the stock may potentially reach the first target of ₹580, the second target of ₹695, and the third target of ₹810, which marks its all-time high.
Targets:
🎯 ₹580 (Target 1)
🎯 ₹695 (Target 2)
🎯 ₹810 (All-time high, Target 3)
Support Levels:
🔻 ₹475–₹485 (first support)
🔻 ₹380–₹400 (major demand zone)
👍This demonstrates a textbook resistance-turned-support confirmation with bullish price structure.
💰Q4 FY24 Key Financial Highlights:
Since 2020, Hindustan Zinc rose from ₹130–₹150 to ₹380–₹400 by 2021, and this ₹380–₹400 zone acted as a major resistance level throughout 2022 and 2023.
In April 2024, the stock broke out above the ₹380–₹400 resistance zone and surged to an all-time high of ₹807 in May 2024.
From that peak, the stock experienced a sharp correction of nearly 50% and dropped back to the ₹380 level. However, the same ₹380–₹400 zone, which previously acted as strong resistance, has now turned into a solid support zone, as seen in March, April, and May 2025.
Taking support from this demand zone, the stock rebounded sharply and broke its recent lower high, supported by a significant trading volume of 15.5 million shares — the highest volume recorded in the past nine months.
If this bullish momentum continues, the stock may potentially reach the first target of ₹580, the second target of ₹695, and the third target of ₹810, which marks its all-time high.
Targets:
🎯 ₹580 (Target 1)
🎯 ₹695 (Target 2)
🎯 ₹810 (All-time high, Target 3)
Support Levels:
🔻 ₹475–₹485 (first support)
🔻 ₹380–₹400 (major demand zone)
👍This demonstrates a textbook resistance-turned-support confirmation with bullish price structure.
💰Q4 FY24 Key Financial Highlights:
- Total Income: ₹9,041 Cr (vs ₹8,556 Cr in Q3 FY24 and ₹7,550 Cr in Q4 FY23)
- Total Expenses: ₹4,258 Cr (vs ₹4,098 Cr in Q3 FY24 and ₹3,896 Cr in Q4 FY23)
- Total Operating Profits: ₹4,783 Cr (vs ₹4,458 Cr in Q3 FY24 and ₹3,654 Cr in Q4 FY23)
- Profit Before Tax: ₹3,749 Cr (vs ₹3,491 Cr in Q3 FY24 and ₹2,736 Cr in Q4 FY23)
- Profit After Tax: ₹2,976 Cr (vs ₹2,647 Cr in Q3 FY24 and ₹2,042 Cr in Q4 FY23)
- Diluted Normalized EPS: ₹7.04 (vs ₹6.26 in Q3 FY24 and ₹4.83 in Q4 FY23)
📌The sharp sequential increase across all metrics highlights strong quarter-on-quarter momentum.
🔍Fundamental AnalysisNet Profit Up 47% YoY: Q4 profit jumped to ₹3,003 Cr from ₹2,038 Cr last year, driven by metal price strength and cost efficiency
Revenue Growth: Revenue rose ~20% YoY to ~₹9,087 Cr
Record Production: Q4 saw the highest-ever production—310 kt of mined metal and 1,052 kt refined metal
Lowest Cost of Production: Zinc CPO hit a 16-quarter low of $994/tonne, down 5% YoY
Strong Market Position: Holds ~75% share in domestic zinc, remains among world’s top integrated producers. Free cash flow was ₹13,784 Cr in FY25
Robust Dividend: Recommended record dividend of ₹135 per share for FY24–25
Expansion Plans: FY25 capex ~₹3–3.2k Cr for mining & smelting capacity growth
ESG Leadership: Top-ten recognition in Sustainability, zero-harm goal, award-winning recycling initiatives .
🏁Conclusion
Hindustan Zinc has delivered a powerful Q4 earnings beat and confirmed a textbook resistance-turning-support setup at ₹380–₹400. With strong production, cost efficiency, and market dominance, this stock is technically and fundamentally well-positioned for upside with targets up to ₹810.
📌Actionable Insight: Watch how the stock behaves above ₹400—if it holds with bullish confirmation, a rally toward ₹580–₹695—and possibly ₹810—is increasingly likely.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.