Vedanta’s stock
Vedanta’s stock has shown recent uptrend, with a nearly 33% surge in April, following a little over 1% gain in the prior month.
Vedanta share price surged nearly 8% to reach a new 52-week high in morning trade on NSE, April 10, amid strong investor interest.Opening at ₹347 from its previous close of ₹338, Vedanta’s share price surged almost 8% to reach ₹364.80, then traded 7.40% higher at ₹363 by around 10:20 am on NSE.
What did CNBC-TV18 say?
According to CNBC-TV18, CLSA mentioned that the company stands to gain from the commodity upcycle owing to its diversified exposure. Additionally, CLSA noted that the company’s initiatives to enhance capacity and profitability across segments are promising.
CNBC-TV18 reported CLSA stating that although debt at the parent company has decreased significantly, leverage at the firm has risen. Monitoring its leverage trend and corporate structure will be crucial.
Vedanta share price
Vedanta’s stock has shown recent uptrend, with a nearly 33% surge in April, following a little over 1% gain in the prior month. The stock’s rise is fueled by expectations of a global manufacturing cycle recovery, seen as beneficial for this metals and mining giant.
Vedanta’s share price reached its NSE 52-week low at ₹208 on September 28 last year. Currently trading at ₹364.60, it has surged roughly 75% from its low point within seven months.
Media Reports
Recent media reports indicate that domestic mutual funds, BlackRock, and Abu Dhabi Investment Authority have collectively raised their Vedanta holdings by nearly 2% over the past four months.
PTI Reports
Market participants reported on April 7 that BlackRock, the Abu Dhabi Investment Authority, and domestic mutual funds such as ICICI Mutual Fund and Nippon India Mutual Fund have collectively raised their stakes in Vedanta by nearly 2% over the past four months, according to a PTI report. The PTI report added that foreign institutional investors (FIIs) also raised their stake in the conglomerate by 1.2% during the same period.
In April, the company announced that its board sanctioned fundraising of approximately ₹2,500 crore via debt securities, to be executed through private placement of non-convertible debentures.
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