Vedanta Group stock engaged in the exploration, extraction, and processing of minerals, and manufacturing of metals and alloys jumped 5 percent in the day’s trade upon signing a MoU for developing next-gen Zinc batteries.
With a market capitalization of Rs. 2,82,082 Crores, the shares of Hindustan Zinc Limited were trading at Rs. 668.95 per equity share, up 3.29 percent from its previous day’s close price of Rs. 647.65.
Hindustan Zinc Limited has signed a memorandum of understanding (MoU) with AEsir Technologies, Inc., a US-based company specializing in next-generation zinc battery technologies, for developing Zinc batteries. Under this MoU, Hindustan Zinc Limited will be the preferred supplier of zinc, a key raw material for AEsir Technologies’ next-generation batteries.
AESir’s Nickel Zinc batteries have proven dependable and successful in the high-end defence sector, including aerospace, marine, renewable energy, and critical infrastructure for data centers, 5G telecom, and many more.
Zinc-based batteries provide a compelling alternative to other modern energy storage solutions, delivering higher power at lower costs with minimal maintenance and longer lifespans of up to 20 years. This makes them ideal for large-scale energy storage in industrial settings.
Zinc batteries are revolutionizing energy storage due to their corrosion resistance, cost-effectiveness, recyclability, stability, and environmental friendliness. They offer broader temperature tolerance, and reliable backup power for extended periods (3-72 hours) compared to other metals.
They are built with non-flammable materials, are non-reactive to air and water, and produce no toxic fumes, ensuring greater safety. Additionally, Zinc-based batteries are recyclable, use non-hazardous raw materials, and have a greenhouse gas (GHG) footprint six times lower than other technologies.
Hindustan Zinc Limited is engaged in the exploration, extraction, processing of minerals, and manufacturing of metals and alloys. It has over 75 percent market share in India’s primary zinc market.
It is India’s largest and only integrated producer of zinc, lead, and silver, the World’s 2nd largest integrated zinc producer, 3rd largest Silver producer, and one of the lowest-cost producers globally.
Its Revenue from Operations declined by 12 percent from Rs. 8,281 Crores in Q4FY23 to Rs. 7,286 Crores in Q4FY24, accompanied by profits of Rs. 8,281 Crores to Rs. 7,286 Crores.
Written by: Bharath K.S
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