Hindustan Zinc Ltd Surges on High-Value Trading and Institutional Interest

Market Performance and Trading Dynamics

On 23 Jan 2026, Hindustan Zinc opened sharply higher at ₹695.0, representing a 4% gap up from its previous close of ₹668.25. The stock maintained an upward trajectory throughout the morning session, reaching an intraday peak of ₹704.9 before settling at ₹698.0 as of 09:45 IST. This price action reflects a strong bullish sentiment, with the stock outperforming the Non-Ferrous Metals sector, which itself gained 4.18%, and the Sensex, which remained flat for the day.

The total traded volume stood at 91.42 lakh shares, translating into a massive traded value of approximately ₹637.40 crore. This level of liquidity is significant, especially considering the stock’s market capitalisation of ₹2,94,758.25 crore, categorising it firmly as a large-cap entity. The stock’s liquidity supports sizeable trade sizes, with an estimated ₹37.86 crore trade size comfortably accommodated based on 2% of the five-day average traded value.

Institutional Interest and Delivery Volumes

Investor participation has notably intensified, with delivery volumes on 22 Jan rising to 90.55 lakh shares, marking a 38.61% increase over the five-day average delivery volume. This surge in delivery volumes is a strong indicator of genuine buying interest rather than speculative intraday trading. Institutional investors appear to be accumulating shares, reinforcing the stock’s upward momentum.

Such heightened institutional activity often precedes sustained price appreciation, as large funds typically conduct thorough due diligence before increasing their holdings. The increased delivery volume also suggests confidence in the company’s fundamentals and outlook.

Technical Strength and Moving Averages

Technically, Hindustan Zinc is exhibiting strong momentum, trading above all key moving averages including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This alignment of short, medium, and long-term moving averages confirms a robust uptrend, which is often a precursor to further gains. The stock’s ability to sustain above these averages indicates strong buying support and positive market sentiment.

The new 52-week high of ₹704.9 achieved today is a critical technical milestone, often triggering fresh buying interest from momentum traders and institutional investors alike. The stock’s outperformance relative to its sector by 0.37% further underscores its relative strength within the non-ferrous metals space.

Fundamental Outlook and Mojo Score Upgrade

Hindustan Zinc’s fundamental profile has also improved, as reflected in its recent Mojo Grade upgrade from Hold to Buy on 09 Oct 2025. The company currently holds a Mojo Score of 71.0, signalling favourable financial health, operational efficiency, and growth prospects. The Market Cap Grade of 1 further confirms its status as a large-cap stock with stable market positioning.

These upgrades are supported by the company’s consistent earnings growth, strong cash flows, and strategic positioning in the non-ferrous metals industry, which benefits from rising global demand for zinc and related metals. The company’s ability to maintain cost leadership and expand margins is likely to sustain investor interest going forward.

Sectoral Context and Broader Market Impact

The Non-Ferrous Metals sector has gained 4.18% today, buoyed by positive global commodity prices and improving industrial demand. Hindustan Zinc’s outperformance within this sector highlights its leadership and resilience amid sectoral tailwinds. While the Sensex remained flat, the stock’s strong showing demonstrates its capacity to deliver alpha in a relatively muted broader market environment.

Investors looking for exposure to metals with robust fundamentals and strong institutional backing may find Hindustan Zinc an attractive proposition, especially given its liquidity and technical strength.

Investor Takeaway and Outlook

Hindustan Zinc Ltd’s recent price action and trading volumes reflect a strong confluence of positive factors: institutional accumulation, technical momentum, and fundamental upgrades. The stock’s ability to sustain gains above key moving averages and its new 52-week high position it favourably for further appreciation in the near term.

However, investors should remain mindful of commodity price volatility and global economic factors that could impact the metals sector. Monitoring delivery volumes and institutional activity will be crucial to gauge the sustainability of the current rally.

Overall, Hindustan Zinc’s upgraded Mojo Grade to Buy, combined with its large-cap stability and sector leadership, makes it a compelling candidate for investors seeking exposure to the non-ferrous metals space with a blend of growth and liquidity.

Summary of Key Metrics:

• Market Capitalisation: ₹2,94,758.25 crore (Large Cap)


• Mojo Score: 71.0 (Buy, upgraded from Hold on 09 Oct 2025)


• Intraday Price Range: ₹688.05 - ₹704.9 (New 52-week high)


• Last Traded Price (LTP): ₹698.0


• Total Traded Volume: 91.42 lakh shares


• Total Traded Value: ₹637.40 crore


• Delivery Volume (22 Jan): 90.55 lakh shares (+38.61% vs 5-day avg)


• Sector Performance (Non-Ferrous Metals): +4.18%


• Sensex Performance: 0.00%

With these robust fundamentals and market dynamics, Hindustan Zinc Ltd remains a stock to watch closely as it continues to attract significant investor interest and institutional flows.

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