May 2, 2018 / 5:06 AM / 3 months ago

BUZZ-India's Hindustan Zinc hits 3-week low

** Shares of Hindustan Zinc Ltd slide as much as 4.7 pct to 311.5 rupees, their lowest since April 16

** Stock posts biggest intraday pct loss since March 23

** Co, a unit of Vedanta Ltd, on Monday posted a 18 pct drop in fourth-quarter net profit

** Better growth visibility but lacks near-term triggers - Macquarie

** Macquarie maintains ‘Outperform’ rating; says stock should remain range bound in the near term

** HSBC says Q4 EBITDA was broadly in line and ahead of consensus estimates

** Adds, tightening zinc markets and rising silver output support co’s robust outlook

** HSBC raises TP to 390 rupees from 370 rupees; retains ‘Buy’ rating

** Fifteen of 27 brokerages rate the stock “buy” or higher, 9 “hold” and 3 “sell”; median PT is 335 rupees - Thomson Reuters Eikon data

** Stock has risen nearly 6 pct this year up to Monday’s close; Tuesday was a market holiday

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