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Hindustan Zinc is also the best-performing metal stock in 2024 so far with a staggering return of 146% YTD. It is India's only silver producer and after recording its highest-ever silver production in FY24, it has become the third-largest silver producer globally.
Vedanta initiated an evaluation of its steel and steel raw material business in June last year amid plans to to focus on its core mining businesses.
We do not propose to do recycling company just now. So, together it will be two companies only. And we also believe that this price of the share in the market is the right time to do the divestment so that government gets maximum value of the shares that they hold. So, if they can complete the divestment process in three to six months, then it will be very easy for us to do the restructuring.
"An OFS was always on the cards, and it was to be done last year itself," Misra said in an exclusive interaction with ET. "The government is of the opinion that restructuring is not to be done now, and our opinion is that, in that case, the OFS should be done now," he said. Hindustan Zinc had proposed a corporate restructuring in September last year, where it looked to create three different entities for zinc and lead, silver and its recycling business.
Key Highlights : Hindustan Zinc is now the 3rd largest silver producer globally, with highest silver annual production, up 5% y-o-y ...