Stock Watch

Hindustan Zinc, a leading Vedanta Resources Group firm has informed that it has clocked substantial dip of 15.21% in its standalone net profit for the quarter ended June 2009.

The company has ascribed this decline in net profit to lower sales and sharp rise in operating cost.

Omaxe, one of the major real estate developers, has informed that its arm Omaxe Infrastructure and Construction (P) won an order worth Rs 907.10 million from Hindustan Zinc.

The proposed contract has been awarded for the improvement and construction of township for the new zinc smelter plant located at Dariba, Udaipur..

Country's top zinc producer, Hindustan Zinc Ltd has raised zinc prices by 0.92 per cent to Rs 1,20,100 per tonne with immediate effect.

While, Lead prices were increased by 1.2 per cent to Rs 1,39,700 a tonne.

Two days earlier, the company had lowered zinc and lead prices to reflect a fall in global rates. The price of zinc was cut by Rs 8,300, or 6.5%, to Rs 119,000 ($2,932) a metric ton. While the company has reduced prices of lead by Rs 11,500 a ton, or 7.7%, to Rs 1,38,100.