CMP : 158
Target Price : 175
For 2QFY2016, Hindustan Zinc (HZL) reported a 4% increase in revenue at
Rs3,908cr (~6% ahead of our estimate of Rs3,693cr). The outperformance was led
by better than expected volumes with refined zinc production at 211,000MT,
increasing 17% yoy. The EBITDA came in at Rs2,164cr, 16% ahead of our estimate
of Rs1,874cr, led by better than ex..