Hindustan Zinc shares tank 7%, snap 3-day streak as silver prices plummet 9%. Should you buy this dip?
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Shares of Hindustan Zinc tumbled as much as 7% to their day’s low of Rs 594 on the BSE on Thursday after silver prices took a massive beating on the MCX, falling 9% or Rs 24,200/kilogram in the first hour of trading. In today’s session, MCX silver futures for March 5, 2026 plunged 9%, down Rs 24,200 to Rs 2,48,400 per kg. Volatility also rose after MCX imposed additional margins on gold and silver futures across all variants after a periodic risk review. Higher margins raise the capital required to hold positions, often leading to reduced leverage and some unwinding of trades in the near term. This can increase volatility and may put short-term pressure on prices. On the global stage, Hindustan Zinc ranks among the leading silver producers, with annual output of 22.5 million ounces — ahead of Grupo Mexico’s 12.1 million ounces and not far from top players such as Fresnillo at 52.5 million ounces and Newmont at 28 million ounces. The compa...