Hindustan Zinc Shares Plunge 2% as Silver Prices Crash 8% After Record Rally

• Hindustan Zinc shares fell 2% to Rs 611.05 after silver prices dropped sharply.
• Silver prices on MCX plunged 7-8% for March and May futures after a significant bull run.
• The fall is attributed to profit-booking and hopes for a Russia-Ukraine peace deal, reducing safe-haven demand.
• Hindustan Zinc, India's largest silver producer, saw its recent share surge linked to rising silver prices.
• Silver ETFs, including Aditya Birla Silver ETF and Axis Silver ETF, also declined by 1-2% following the price drop.

Why It Matters: Silver's sharp decline post-rally impacts Hindustan Zinc shares and various silver ETFs.