Buy Hindustan Zinc, target Rs 290 : Citigroup

Citigroup has a buy call on Hindustan Zinc Ltd. with a target price of Rs 290 .The current market price of Hindustan Zinc Ltd. is Rs 249.85 The brokerage gave a year 's time for Hindustan Zinc Ltd. price to reach the defined target. HZL continues to maintain higher mined metal production in FY17 compared with FY16. The global investment bank continues to be bullish on zinc driven by a compelling mine closure story. The global investment bank estimates FY17 dividend at Rs 10 per share (60 per cent payout).