Hindustan Zinc Hits 52-Week High as Silver Rally Lifts Stock; Market Cap Overtakes Wipro, Adani Power, Asian Paint, Coal India

By 2 min Read Jan 14, 2026

Indian equity benchmark indices have been on a roller-coaster ride in recent weeks, weighed down by uncertainty surrounding the India–US trade relationship. Sentiment has been further unsettled after US President Donald Trump approved a sweeping Russia sanctions bill that proposes steep tariffs on goods and services imported from countries trading in Russian-origin uranium and petroleum products.

Amid this fragile backdrop, one stock has stood out for its resilience. Hindustan Zinc Limited has not only weathered the volatility but has also delivered a robust 18% gain over the past month, sharply outperforming the frontline.

A Dominant Franchise in Zinc, Lead and Silver

Hindustan Zinc, a subsidiary of Vedanta Limited, is the world’s largest zinc producer and India’s only fully integrated producer of zinc. It also ranks among the top five silver producers globally and is India’s only listed integrated precious metals company.

The company is the country’s largest and sole integrated producer of zinc, lead and silver, with operations supplying more than 40 countries. In the domestic market, it commands an estimated 77 per cent share of primary zinc production, underlining its leadership position.

On Wednesday, January 14, 2026, Hindustan Zinc shares rallied nearly 6% to touch a fresh 52-week high. The move was largely due to an upswing in silver prices, which climbed about 5 per cent in international markets. In India, Silver MCX March 05 futures surged over 4%, providing a strong tailwind to the stock.

Why is Hindustan Zinc Rallying?

A key driver behind Hindustan Zinc’s strong performance is the accelerating global shift towards clean energy technologies. This transition is boosting demand for critical minerals, with zinc and silver emerging as metals of the future.

Zinc plays a vital role in enabling green technologies. It protects solar panels and wind turbines from corrosion and is essential for durability across sectors such as automotive, consumer products, energy, food security and infrastructure. Its recyclability and long life make it integral to a more sustainable industrial ecosystem.

Silver, meanwhile, occupies a unique position as both an industrial metal and a financial asset. Its unmatched conductivity and reflectivity make substitution difficult, particularly in low-carbon and high-technology applications. As economies move towards a high-tech, low-carbon model, silver demand is expected to remain structurally strong.

Hindustan Zinc Q3FY26 Production Performance

Hindustan Zinc reported its best-ever third-quarter mined metal production in Q3FY26, driven primarily by higher ore output. Refined metal production reached a record 270 kilotonnes, supported by the commissioning of debottlenecking projects at Chanderiya and Dariba, the ramp-up of the 160 ktpa roaster at Debari, and improved plant availability.

Refined lead production declined 11% year-on-year due to ‘pyro operations on lead-only mode’ in the previous period. Saleable silver production stood at 158 metric tonnes, up 10% quarter-on-quarter, broadly in line with lead production trends.

Market Capitalisation Crosses ₹2.8 Lakh Crore Overtakes Wipro, Adani Power, Coal India

Following the recent rally, Hindustan Zinc’s market capitalisation has crossed ₹2.8 lakh crore. In doing so, it has overtaken well-known names such as Wipro, Adani Power, Asian Paints and Coal India.

Hindustan Zinc’s share price is up around 52% over the past six months. Over a two-year period, the stock has more than doubled, delivering returns of about 109%.