Atmastco has secured a contract from Hindustan Zinc for an engineering project valued at Rs 1.28 billion at the Dariba Smelting Complex in Rajsamand, Rajasthan. The agreement marks a significant development in Atmastco’s operations, further strengthening its position in the engineering and erection sector.

Following the announcement, Hindustan Zinc’s stock price rose by 1.66 per cent to reach Rs 437.15 on the Bombay Stock Exchange (BSE). The market reaction highlights investor confidence in the company’s on-going industrial projects and expansion efforts.

Atmastco initially focused on the trading of steel goods and industrial products before expanding into the engineering and erection business. Over the years, it has diversified its operations, taking on large-scale industrial and infrastructure projects.

Hindustan Zinc, a subsidiary of the Vedanta Group, is a key player in the Indian metals and mining sector. It is an integrated producer of zinc, lead, and silver, with operations spread across multiple locations. As of March 2024, Vedanta held a 64.92 per cent ownership stake in the company. The latest contract aligns with Hindustan Zinc’s on-going efforts to enhance its production capacity and operational efficiency at the Dariba Smelting Complex, which is a crucial site for its smelting and refining activities.

This collaboration is expected to contribute to the growth of both companies, with Atmastco leveraging its engineering expertise and Hindustan Zinc strengthening its industrial infrastructure. The project underscores the growing investments in India’s metals sector, reflecting the industry’s focus on modernization and capacity expansion.

News source: Business Standard