After opening the day strong, share markets in India witnessed selling and are trading marginally above the dotted line. Sectoral indices are trading on a mixed note with stocks in the consumer durables and telecom sector leading the gains, while stocks in the oil & gas and metals sectors are trading in the red.

The BSE Sensex is trading up by 52 points (up 0.2%), and the NSE Nifty is trading up by 16 points (up 0.2%). Meanwhile, the BSE Mid Cap index is trading flat, while the BSE Small Cap index is trading up by 0.4% The rupee is trading at 66.66 to the US$.

In news from stocks in the metals sector, India’s largest zinc producer, Hindustan Zinc unveiled plans to invest Rs 5.7 billion to commission its first zinc fumer plant.

Hindustan Zinc aims to use the plant to extract metals from the production waste, and to boost volumes. The company loses about 27,000 MT of metal per annum in this waste. Globally, the zinc-lead mining industries have been facing challenge towards recovery of metals from waste.

Hindustan Zinc has placed formal order to China non-ferrous metal industry’s Foreign Engineering & Construction Co and it is expecting to commission the first zinc fumer plant at Chanderiya by the middle of 2018, the company said in a statement.

The plant, once operational will improve recovery of zinc from 96.8 % to 97.5% and would add about 3000 tonnes of zinc from just one smelter per annum. It will also increase lead production by about 4700 tonnes and silver by 33 tonnes per annum.

At present, Hindustan Zinc has an overall capacity to produce about 825,000 tonnes of Zinc, 180,000 tonnes of Lead and about 500 tonnes of Silver.

In related news, Hindustan Zinc made changes to its key personnel with two high level appointments. The company appointed a Chief Operating Officer and a Deputy Chief Finance Officer to support the expansion in its operations.