Hindustan Zinc surges over 5% on dividend announcement; brokerage says valuation expensive, slashes target price

Hindustan Zinc dividend: Shares of Hindustan Zinc surged over five per cent in Thursday’s intraday trade after the board of directors of the company approved an interim dividend of Rs 21 per equity share on Wednesday.

Global brokerage house CITI slashed the target price of the stock saying it can undergo more corection. Source: Reuters