Hindustan Zinc in focus as Silver prices see wild swings

Fri Mar 20 2026

After a historic 14% plunge on the COMEX, silver prices are staging a fragile recovery above the $70 per troy ounce mark.

The share price of Hindustan Zinc is in focus in trade today after the sharp swing in silver prices overnight. International silver rates have recovered some ground above the $70 per troy ounce level after the sharp 14% slide last evening.

To give you context, Hindustan Zinc is India’s largest Silver producer and ranks third globally. It produced 746 MT in FY24, and targets to reach 1,500 tonnes per annum (TPA) by FY30. As a result, the Vedanta Group has exposure to both Silver and Aluminium.

Silver on track for third straight weekly loss

Silver is on track for a third straight weekly loss as rising energy prices linked to West Asia tensions intensified inflation fears. 

Though prices have recovered to some extent this morning, the rate of Silver dropped close to 15% on COMEX yesterday, while the price of Gold declined 5%. The rate of Aluminum on the LME traded as low as 8%. 

Investors shifting focus to dollar, treasuries

Another factor contributing to the fall is that investors have shifted toward the dollar and Treasuries, from pressuring precious metals, said Ajay Kedia, Founder of Kedia Commodity Advisors.  Apart from Silver and Aluminium, the Copper market witnessed a historic “flash crash” on Thursday, with MCX Copper March contracts plunging nearly 9% to hit Rs 1,050 per kg. This violent sell-off follows a “perfect storm” of bearish fundamentals across global exchanges. 

Another factor contributing to the sell-off is that the Federal Reserve held rates steady and indicated that rate cuts are unlikely until inflation shows clear easing, with expectations now pushed to 2027. Higher interest rates are generally negative for metals.

Hindustan Zinc share price performance

The has fallen 9.8% in the last five trading sessions. The stock has declined by over 13% in the past one month. However, Hindustan Zinc’s share price has risen 11.5% in the last six months. It has given a return of 12% in the past one year. 

Hindustan Zinc Q3FY26

The metal company’s net profit jumped 46.5% year-over-year to Rs 3,879 crore in the third quarter of the current financial year, compared with Rs 2,647 crore in the same quarter a year back.  Its revenue from operations surged by 27.6% YoY to Rs 10,922 crore in Q3FY26, as against Rs 8,556 crore in Q3FY25.

Source: https://www.financialexpress.com