thenewsfacts.com
  • Home
  • Latest News
  • Trending News
  • Entertainment
  • Technology
  • Sports
  • Business
  • Health
thenewsfacts.comthenewsfacts.com
Font ResizerAa
Search
  • Home
  • Latest News
  • Trending News
  • Entertainment
  • Technology
  • Sports
  • Business
  • Health
Follow US
© thenewsfacts : All Rights Reserved.

Home » Vedanta Share Price is the Sensex Show Stopper this Week

Business

Vedanta Share Price is the Sensex Show Stopper this Week

TheNewsFacts
Last updated: March 22, 2022 7:25 pm
TheNewsFacts
Share
Vedanta Share Price is the Sensex Show Stopper this Week
SHARE

Vedanta share price soared nearly 3% on Tuesday morning to hit a fresh 52-week high as the mining major extended its year-to-date gains to more than 13%. In a recent analyst meeting, the company’s management shed light on its debt reduction plans at the parent level and said that they remain upbeat on demand for metals and minerals on the back of a surge in demand for EVs and renewable energy.

Analysts see further upside in Vedanta’s share price while advising investors to buy more shares of the company. Vedanta shares were trading 2.9% higher at Rs 412.75 per share on Tuesday morning.

Vedanta Share Price hits 52 Week High on Tuesday

Chairman Anil Agarwal in a televised interview today shared his thoughts on investing in the semiconductor market in #India & plans to reduce net debt by $4 billion over the next 3 years

According to analysts at Motilal Oswal Financial Services and Systematix Institutional Equities, Vedanta has capex plans of $1 billion-$1.5 billion per annum over the next few years. The upshot: volume expansion, cost reduction, increase in share of value-added products and improvement in ESG (environmental, social and governance) standards, note analysts at Motilal Oswal in a report. “Capex is likely to continue even during a downturn to support these initiatives,” added the report

IIFL Securities has an ‘Add’ rating on the scrip with a target price of Rs 424 per share. “At the analyst meeting, Vedanta Chairman highlighted debt reduction of $5 billion over 3 years at parent Vedanta Resources as a top-most priority, led by an elevated $2 billion annual dividend payout by Vedanta. The brokerage firm said that group deleveraging, growth capex is in focus for Vedanta.

The company aims to enhance its volume capability across all its business. “In the near term over the next three years, Vedanta plans to raise its aluminium smelting capacity by 36% to 3mtpa (million tonnes per annum), raise zinc/ lead output by 36% to 1.7mtpa, silver capacity by 24% to 800 tpa, steel capacity by 133% to 3.5mtpa, ferro chrome capacity by 67% to 0.15mtpa, and add nickel smelting capacity of 7,000 tpa,” said a report by Systematix.

In the oil and gas business, analysts at Motilal Oswal remarked that its FY24E target production of 300kboepd (barrels of oil equivalent per day) seems to be a tall ask.

TAGGED: Vedanta Share Price, Vedanta Stock, Vedanta Stock 52 Week High
Share This Article
Twitter Email Copy Link Print
Previous Article Smriti Mandhana Bats Her Way to the Top 10 ICC Women's ODI Rankings Smriti Mandhana Bats Her Way to the Top 10 ICC Women’s ODI Rankings
Next Article Science is Rewarding, if You Defeat the Odds - COVAXIN Scientist Krishna Science is Rewarding, if You Defeat the Odds – COVAXIN Scientist Krishna

Your Trusted Source for Accurate and Timely Updates!

We're committed to providing accurate and unbiased news as it unfolds, earning the trust of a large audience. Stay informed with our news updates on the latest events and trends, keeping you ahead of the curve.
FacebookLike
TwitterFollow
InstagramFollow

Popular Posts

Samsung Galaxy S23: Revolutionary Camera Upgrades Revealed in Leaks

The Samsung Galaxy S23 series is set to officially launch on February 1 at 11:30PM…

By TheNewsFacts

HSBC UK saves Silicon Valley Bank from collapse, restarts operation

Silicon Valley Bank collapse has taken the banking industry by surprise. This bank is one…

By TheNewsFacts

Rubina Dilaik Hot and Sexy Bikini is a viral sensation

Big Boss winner Rubina Dilaik has surprised her fans with fans with a stunning pictures…

By TheNewsFacts

You Might Also Like

AM Green
Business

AM Green, Port of Rotterdam To Enable 1 MTPA , $1B Trade for Green Fuels

By TheNewsFacts
Rio Tinto
Business

AMG, Rio Tinto Plan 500K TPA Green Aluminium in India

By TheNewsFacts
BluSmart
Business

BluSmart’s EV U-Turn: Platform Out, Fleet In

By TheNewsFacts
GreenLine Mobility Solutions
Business

GreenLine Bets Big on Net-Zero Logistics; Invests $275M

By TheNewsFacts
thenewsfacts thenewsfacts

About US


TheNewsFacts: Brings you the interesting facts, news facts and updates from India an the world across politics, tech, entertainment, business, tending, and more. We deliver what you love to read.
Top Categories
  • Latest News
  • Trending News
  • Paris Olympics 2024
  • Sports
  • Entertainment
  • Business
  • Technology
Usefull Links
  • About The News Facts
  • Latest News
  • Privacy Policy
  • Editorial Policy
  • Disclaimer
  • Contact Us
Follow us
Facebook Twitter Instagram

© thenewsfacts. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?