We had recommended a BUY on Hindustan Zinc (HZL) in a detailed report dated 19 June, 2012 with a target price of Rs137. The stock has touched the high of Rs137.3 in Today's trading session registering 19% return from our recommended price of Rs115. We believe valuations are at comfortable levels and upside from the stock remains capped due to rising coal costs and subdued zinc prices globally. We advise investors to book profit in the stock. In longer term, however, we continue to remain positive on the company.
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