Hindustan Zinc shares rallied sharply on December 12, climbing over 8% to register a new 52-week high of ₹566.70. Despite the strong upmove, the stock still trades nearly 61% below its lifetime high of ₹1,443, which was recorded back in January 2011.
The Vedanta Group company has been on a steady upward trajectory, gaining almost 16% in just the last four trading sessions, and leading the rally within the metals sector.
The Indian rupee slipped to a fresh record low on December 12, touching ₹90.56 per US dollar, as market sentiment weakened due to the lack of progress on a US trade agreement. A stronger American currency and continuous foreign fund outflows further added pressure on the rupee.
At the interbank forex market, the domestic currency opened at ₹90.43, later dropping to ₹90.56, marking a decline of 24 paise from its previous closing level. This move pushed the rupee beyond its earlier lifetime low of ₹90.4675 recorded on December 11.
The US Dollar Index was also marginally higher at 98.37, reflecting the dollar’s overall strength against major global currencies.
Prime Minister Narendra Modi has announced GST 2.0, promising lower tax rates on most goods and services. Economists believe this move will act as a “Diwali gift” by reducing the tax burden on citizens. The reforms are also expected to cool inflation further, creating space for the Reserve Bank of India (RBI) to ease monetary policy. With inflation under control, analysts suggest the RBI could announce a rate cut as early as October. Morgan Stanley has projected one more cut in the upcoming policy review. UBS also expects further easing, with the terminal repo rate likely to settle between 5–5.25%. The brokerage estimates a 25–50 basis points cut in FY26 to support growth. Lower interest rates will benefit businesses and consumers, boosting overall economic momentum. GST 2.0 thus marks a major policy shift combining tax relief and growth support. The coming months will be crucial to see how these reforms shape India’s economic outlook..
