Shares of Hindustan Zinc Ltd jumped nearly 5% on Wednesday's early trade after the company declared fourth interim dividend of ₹26 per equity share on Tuesday.
As per company's filing, the interim dividend of ₹26 per equity share, or 1300% on face value of ₹2 per share for the fiscal 2022–23, amounts to ₹10985.83 crores, and will be paid within stipulated timelines.
On Wednesday's trade, the stock has gained 32.49% from 52-week low of 242.0 recorded on July 6, 2022, and the stock price rose 3% and outperformed its sector by 5.4% in the past year.
The stock is trading at high day volume of 4.0 million.
"The stock has seen strong traction in today's session, and the volume activity is good supporting the upmove. If prices continue to hold this gain, the prices can expect further upside traction towards ₹335 - 340 , immediate support is at ₹310," said Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One.
According to Mintgenie poll, 12 analysts recommend 'sell' rating on the stock.
