New Delhi, July 27 -- Hindustan Zinc's stronger-than-expected June-quarter earnings have reinforced brokerages' confidence in the company's long-term growth prospects. Analysts believe a favourable pricing environment for zinc and silver, record-low production costs, and an expanding project pipeline should help sustain healthy profitability despite a seasonal decline in production volumes.

YES Securities upgraded the stock to 'BUY' from 'ADD' with a revised target price of Rs.660 per share, implying an upside of around 24% from current levels. The brokerage said Hindustan Zinc delivered "another strong financial performance, with robust metal prices and disciplined cost control more than offsetting the seasonal decline in production and...