Silver ETFs Soar 6% to New Highs; Hindustan Zinc Shares Drop 3% on Vedanta's OFS
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Moneycontrol•28-01-2026, 10:50
Silver ETFs Soar 6% to New Highs; Hindustan Zinc Shares Drop 3% on Vedanta's OFS
- •Silver ETFs reached fresh lifetime highs on January 28, mirroring a nearly 6.5% surge in silver futures.
- •Hindustan Zinc shares fell over 3% to Rs 705.10, breaking a two-session gaining streak.
- •The decline in Hindustan Zinc is due to promoter Vedanta's plan to sell a 1.59% stake (6.7 crore shares) through an Offer for Sale (OFS).
- •The OFS floor price is set at Rs 685 per share, a 6% discount from the previous day's closing price, aiming to raise Rs 4,589.50 crore.
- •Vedanta's stake in Hindustan Zinc will reduce from 61.84% to an estimated 60.25% after the sale, while Vedanta shares surged over 4%.
Why It Matters: Silver ETFs hit record highs due to surging silver prices, but Hindustan Zinc shares fell after Vedanta announced a stake sale.
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