We upgrade Hindustan Zinc (HZL) to Buy (vs Hold earlier) as we like HZL for strong zinc market fundamentals, its plans to expand output to 1.2 mtpa through transition to underground mining through shafts being on track for FY20E and likely cost economies. We believe that recent correction in zinc prices have little to do with fundamental factors and have been driven by global trade friction which in turn is likely to be short lived. The resultant stock price correction has led to...