Shares of Hindustan Zinc were trading 6% higher on 4 December after the company announced that its Board of Directors are set to meet on 6 December to consider paying a second interim dividend for the current fiscal year.

In its regulatory filing, Vedanta-owned Hindustan Zinc said that the record date to determine eligibility for the interim dividend would be 14 December 2023.

A record date implies that a shareholder who owns the shares on that date is eligible for the payout.

The company’s management maintains a positive stance on expected growth in Zinc demand in the country on the back of increasing infrastructure, construction activities, and growing steel output.

In its quarterly report for July-September, the company reported a 35.5% year-on-year (YoY) decline in its net profit to Rs 1,729 crore against Rs 2,680 crore reported in the same quarter last year.

The revenue from operations stood at Rs 6,792 crore for the quarter under review, which is an 18.5% YoY decline from Rs 8,336 crore reported in the same quarter of the previous fiscal year.

At 3:30 pm, the shares of Hindustan Zinc closed 5.95% higher at Rs 318 on NSE.