Hindustan Zinc shares slipped over 2% to an intraday low of Rs 621.45 on the BSE on Monday, extending losses to more than 7% over the last two trading sessions.
The decline came as silver prices saw a sharp selloff on MCX, falling over Rs 5,000 per kg amid renewed Iran war tensions and reduced expectations of a rate cut this year. Following the government’s import duty hike, MCX silver has now plunged nearly 13%, or around Rs 40,000 per kg, from its peak of Rs 3.04 lakh in just three trading sessions.
