Vedanta Ltd (VEDL)

Vedanta Stock Rallies Amid Brokerage Target Price Increases - 03 May, 2024

Vedanta Ltd's stock has rallied 39% in the past month, with various brokerages increasing their target prices. The company reported weak Q4 results but anticipates sales picking up in H2 2024. Additionally, there is potential for a demerger and pure-play investment options. Sentiment remains positive.

Vedanta Plans $20 Billion Investment in India - 02 May, 2024

Vedanta Group plans to invest $20 billion in India over the next four years, with a focus on technology, electronics, semiconductors, and glass segments. The conglomerate's chairman also announced that the steel business sale is on hold until the right price is offered.

Vedanta Plans $20 Billion Investment in India - 01 May, 2024

Vedanta plans to invest $20 billion across all its businesses in India over the next four years, with a focus on technology, electronics, and glass businesses. The company's Q4 results showed strong performance, and the demerger plan is expected to unlock shareholder value.

Vedanta's Domestic Businesses Expected to Deliver Strong Growth - 30 Apr, 2024

According to Centrum, Vedanta's domestic zinc and aluminium businesses are expected to deliver strong growth over the next few years, driven by higher commodity prices and lower cost of production. However, international zinc, copper, and steel businesses underperformed during the quarter. The recent stake sale by the promoter did not attract any high-profile institutional investors.

Vedanta Shares Surge on Strong Q4 Numbers - 29 Apr, 2024

Shares of Vedanta have surged by almost 48% in a month, reaching their highest level in two years. The company has reported strong Q4 numbers, with its domestic zinc and aluminium businesses expected to deliver high CAGR over FY24-26E.

Vedanta Ltd to Benefit from Commodity Price Resilience and Demerger Plans - 28 Apr, 2024

Analysts predict Vedanta will benefit from commodity price resilience, demerger plans, and debt resolution. The company's EBITDA rose by 4% QoQ in Q1 FY25 due to improved performance in aluminium, power, and zinc. Vedanta is set to complete its alumina/aluminium/international zinc expansion during the current fiscal year, which will provide visibility around volume growth and cost reduction for FY26 onwards. Analysts reiterate a positive outlook on the stock.

Analysts Up Price Targets for Vedanta After Strong Q4 Performance - 26 Apr, 2024

Vedanta's Q4 profit declined 27%, but Kotak Institutional Equities raised its target price by 25.5% to Rs 320/share due to a recent rally in global metal prices. The company reduced debt by Rs 6,155 crore during the quarter, improving net debt-to-Ebitda ratio to 1.5x from 1.7x. Nuvama and Citi increased their price targets for the stock by nearly 40% to Rs 542 and Rs 425 respectively, while CLSA hiked its price target to Rs 430 from Rs 390 earlier. Vedanta shares rose 4% on Friday.

Vedanta Reports Decline in Q4FY24 Net Profit - 25 Apr, 2024

Vedanta Ltd.'s Q4FY24 net profit declined by 27.4% YoY to Rs 2,273 crore, but still beat analyst estimates. The company also expects the sale of its steel business to be completed between Q1 and Q2 of this fiscal year.

Vedanta Faces Opposition from Government on De-Merger Plan - 24 Apr, 2024

The Indian government continues to oppose Vedanta's de-merger plan for Hindustan Zinc. Analysts predict lower Q4 profits and sales for Vedanta due to weaker commodity prices and lower volumes in the oil and gas division.

Abu Dhabi's IHC Mining Unit Offers to Buy Majority Stake in Vedanta's Zambian Copper Assets - 22 Apr, 2024

International Holding Company's mining unit has offered to buy a majority stake in Vedanta Resources' Konkola Copper Mines. Vedanta plans to sell part of its 80% stake to raise capital and revive the assets that were almost paralysed in an ownership dispute with the government in 2019.

Vedanta Shares Rise on Commodity Prices Surge and Strong Quarterly Updates - 20 Apr, 2024

Vedanta shares have risen by 50% since mid-March due to the global surge in commodity prices, strong quarterly updates from metal companies, and debt improvement efforts. Meanwhile, Hindustan Zinc is planning to explore and develop mineral blocks while Vedanta has bid for critical mineral blocks in ongoing auctions.

Vedanta Sees Sharp Monthly Gains Amid Gender Diversity Push - 19 Apr, 2024

Vedanta's stock has seen sharp monthly gains amid a push for gender diversity and a rally in base metal prices. The company's subsidiary Hindustan Zinc doubled women representation in mining jobs to 13.3%. Technical analysts see further gains with the stock likely to notch up to ₹460-480 levels. Meanwhile, the Indian government may offload only 3.5% of its stake in Vedanta due to shareholder rights.

Vedanta Plans Disciplined Growth and Deleveraging - 18 Apr, 2024

Vedanta Ltd is set to prioritize disciplined growth while eyeing a USD three billion deleveraging in the next three years. The company also secured a term loan of INR 3,918 crore from Power Finance Corporation to expedite completion of its power projects. Vedanta aims to invest USD 6 billion across businesses and achieve an annual group EBITDA of $7.5 billion within two years.

Vedanta to Complete Demerger of Key Businesses by December 2024 - 17 Apr, 2024

Mining conglomerate Vedanta expects the demerger of five key businesses into separate listed entities to be completed by December 2024. The move will promote each company's independent strengths and attract targeted investments, driving sustainable growth and long-term stakeholder value creation. Chairman Anil Aggarwal reiterated the company's target of deleveraging Vedanta Resources by $3 billion in the next three years and achieving an annual Group EBITDA of $7.5 billion within two years.

Vedanta Secures Loan and Plans Bond Issue - 16 Apr, 2024

Mining conglomerate Vedanta secured a long-term loan of Rs 3,918 crore from PFC and plans to raise up to Rs 2,500 crore through bond issues. The financial closure will expedite completion of its power projects.

Vedanta Secures Funding for Power Projects - 15 Apr, 2024

Vedanta has secured a term loan of Rs 3,918 crore from PFC and is looking to raise Rs 2,500 crore through bond issuance with the help of JPMorgan. The funds will be used to augment capacity at two power plants in India.

Vedanta to Raise up to Rs. 4,000 Crore from PFC for Power-Generation Capacity - 14 Apr, 2024

Vedanta Ltd has secured a rupee term loan facility of at least Rs. 3,918 crore from state-run Power Finance Corporation (PFC) for 11 years to ramp up its power-generation capacity. The agreement is part of Vedanta's renewed focus on growing its energy portfolio in India amid cutthroat competition among large domestic corporations.

Vedanta Shares Hit Two-Year High Amid Buy Rating Upgrade - 12 Apr, 2024

Shares of Vedanta Ltd have surged to a two-year high following a buy rating and target price upgrade by CLSA to Rs 390 from Rs 260. The company is well-positioned to benefit from the commodity upcycle due to its diversified exposure, according to analysts. Additionally, efforts to increase capacity and profitability across segments are viewed favorably. NCLT has allowed fresh bidding for KSK Mahanadi project, which could give Vedanta another opportunity to bid.

Vedanta Ltd Shows Interest in Power Asset Auction, Share Price Surges on CLSA Upgrade - 11 Apr, 2024

Mining and natural resources major Vedanta Limited shows interest in auction for power asset under insolvency proceedings. The company sees a surge in share price after recent upgrade by CLSA despite estimated Q4 Ebitda decrease.

CLSA Upgrades Vedanta to Buy Rating; Raises Price Target by 50% - 10 Apr, 2024

Vedanta Ltd's stock rallies after foreign brokerage CLSA upgraded it to Buy rating and raised its price target by 50% to Rs. 390 due to the commodity upcycle. The company is expected to benefit from diversified exposure and efforts to raise capacity and profitability across segments through capex activities. Shares have already rallied 23% over the last month with copper prices trading at a 15-month high.