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The latest announcement is out from Hindustan Zinc Limited ( (IN:HINDZINC) ).
Hindustan Zinc Limited has informed the stock exchanges that its promoter and holding company, Vedanta Limited, has received an order from the Deputy Commissioner of Commercial Taxes in Bengaluru confirming a penalty of INR 31.52 lakh, along with associated tax demand and interest, related to alleged ineligible input tax credit claims and discrepancies in turnover declarations for FY 2021-22. Vedanta has stated that it is evaluating its next course of action in the matter and does not expect the order to have any material financial impact, suggesting limited operational or earnings implications for the wider Vedanta group and, by extension, for Hindustan Zinc’s stakeholders at this stage.
More about Hindustan Zinc Limited
Hindustan Zinc Limited is a leading Indian integrated mining and metals company primarily engaged in the production of zinc, lead and silver, serving domestic and international industrial and infrastructure markets. It operates as a subsidiary of Vedanta Limited, which is its promoter and holding company and is listed on the BSE and NSE.
Average Trading Volume: 471,507
Technical Sentiment Signal: Buy
Current Market Cap: 2690.5B INR
For a thorough assessment of HINDZINC stock, go to TipRanks’ Stock Analysis page.