JM Financial retains Buy on Hindustan Zinc, raises target price to Rs 550

JM Financial maintains a Buy call on Hindustan Zinc, revising the target price to Rs 550. Hindustan Zinc is expanding its capacity by setting up a 250kt integrated Zinc metal complex, increasing smelting and mined metal capacities. The project, expected to be completed within 36 months, will be funded through internal accruals and debt, with capex spread over FY26-FY28.