Hindustan Zinc Committed To Partner With India’s Auto Firms

On July 03, 2024, Vedanta Group firm Hindustan Zinc expressed its commitment to collaborate with Indian auto companies to “unlock zinc potential” and boost India’s mobility.

When used in the automotive sector through galvanised steel, zinc significantly reduces fuel consumption and emissions. It offers high corrosion resistance to lightweight steel bodies, resulting in durable, long-lasting vehicles with extended anti-corrosion warranties.

Arun Misra, CEO of Hindustan Zinc, said, “Our zinc solutions are not only cost-effective and adaptable for complex designs but also environmentally responsible, making zinc a key material for a cleaner and more sustainable tomorrow.”

Hindustan Zinc recently showcased its wide range of products for the automotive sector at the 4th Automotive Component Manufacturers Association (ACMA) Raw Material Conclave & Exhibition.

Hindustan Zinc presented its products, including zinc, lead, silver, and value-added items, emphasising the automotive industry’s advantages of zinc galvanisation and zinc die-casting alloys. Hindustan Zinc has long been a key supplier to the auto industry, offering a variety of metals for use in car bodies, batteries, chips, accessories, and corrosion-resistant parts.

In their recent press release, Hindustan Zinc announced that mined metal production for the first quarter was 263 kt, a 2% increase year over year due to improved metal grades. However, due to regular mine preparation activities conducted in the first quarter, production was 12% lower quarter over quarter. Refined metal production reached 262 kt, a 1% increase year over year but 4% lower sequentially due to plant availability and the transition to lead mode operations later in the quarter.

About Hindustan Zinc

Hindustan Zinc Limited is a Vedanta Group company and ranks as the world’s second-largest zinc producer and the third-largest silver producer. The company supplies its products to over 40 countries and holds approximately 75% of the primary zinc market in India. In 2023, the S&P Global Corporate Sustainability Assessment recognised Hindustan Zinc as the world’s most sustainable company in the metals and mining category, highlighting its excellence in operations, innovation, and leading ESG practices.

On July 04, 2024, the share price of Hindustan Zinc opened at ₹680.00, touching the day’s highest price of ₹695.00 as of 09:36 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.