Anil Agarwal-led Vedanta shares will be in focus on Monday after the company emerged as the preferred bidder for a diamond mine in Madhya Pradesh. The company announced that the Madhya Pradesh Department of Geology and Mining had invited tenders for the Kauhari Diamond Block through e-auction for a composite licence. Vedanta participated in the … Read more
Shares of Vedanta continued their upward momentum on Friday, surging by 3% to reach Rs 515.8, following the announcement of the company’s upcoming board meeting to discuss the fourth interim dividend for the financial year 2024-25. The gains were also supported by positive sentiments in the overall metal sector after China pledged fiscal policy measures … Read more
Metal major Vedanta is expected to report its net profit in the range of Rs 2,197 crore to Rs 3,060 crore for the quarter ended June 30, 2024, according to estimates by three brokerages. Meanwhile, the revenue is estimated at Rs 35,440 crore – Rs 38,674 crore for the said quarter. The estimates have been … Read more
Vedanta Limited, the metals to oil conglomerate, plans to use the proceeds of QIP for repaying or prepaying lenders, including Oaktree, for the company and its subsidiary The Zinc Ventures Limited (THLZV). The funds raised will help reduce overall indebtedness, cut debt servicing costs, and improve the debt-to-equity ratio. It will enable better utilisation of … Read more
Metal stocks have been on a roll lately. The Nifty Metal index has been up significantly, with gains of over 50%, in the last one year. ETMarkets spoke to Sonam Srivastava, Founder & CEO of Wright Research, to understand the factors behind the rally and more. Edited excerpts: 1. The Nifty Metal index has been … Read more
Mining conglomerate Vedanta has been warned by markets regulator Sebi to strengthen its internal control for corporate announcements and press releases. Vedanta told exchanges that it has received a letter from NSE, annexing a letter issued by Sebi in which an administrative warning has been issued to Vedanta. “The company has been directed to place … Read more
Shares of Anil Agarwal-led firm Vedanta fell 3% to Rs 271 in Monday’s trade on BSE after the company reported a consolidated net profit of Rs 2,640 crore for the quarter ended June, down about 40% from Rs 4,421 crore reported in the same quarter last year. Its revenue from operations fell 13% to Rs … Read more
Equity indices rallied on Tuesday, tracking a positive trend in the global markets and unabated foreign fund inflows. The 30-share BSE Sensex advanced 273 points to settle at 65,617, while the broader Nifty climbed 83 points to end at 19,439. Stocks that were in focus include names like Vedanta, which was lower by 1.59%, Mazagaon … Read more
Brokerage firm JPMorgan downgraded Vedanta to a neutral rating, maintained underweight stance on Hindustan Zinc and retained overweight on Hindalco. Citi downgraded AU Small Finance Bank to neutral and Macquarie has an underperform rating on Info Edge. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:JPMorgan on Vedanta … Read more
Shares of Vedanta will trade ex-dividend on May 30. The company had earlier announced an interim dividend of Rs 18.5 per share for financial year 2023-24. The record date to determine the eligibility of equity shareholders has been fixed on May 30. The payout by the company towards the first interim dividend will be Rs … Read more