The shares of the multinational mining company gained 1 percent after the company’s board approved the sale of up to 11,00,00,000 equity shares of Hindustan Zinc (NS:HZNC) Limited.
With a market capitalization of Rs 1.65 lakh crore, the shares of Vedanta (NS:VDAN) Ltd were trading at Rs 423.10 per share, increasing around 0.09 percent as compared to the previous closing price of Rs 422.70 apiece.
Is Vedanta a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
Reason to Rise:-
According to the company filing, Vedanta Ltd’s board of directors has approved the sale of up to 11,00,00,000 equity shares of Hindustan Zinc Limited, representing 2.60% of the issued and paid-up equity share capital of HZL.
Financial Performance:-
Looking forward to the company’s financial performance, revenue magnified a significant 6 percent from Rs 33,733 crore in Q1FY24 to Rs 35,764 crore in Q1FY25, during the same time frame net profit zoomed 54 percent from Rs 3,308 crore to Rs 5,095 crore.
Expansion plan & return:-
The company has launched Asia’s first low-carbon green zinc, Ecogen, and commencement of supply of RE power from Serentica 180 MW solar project in May 2024.
Vedanta’s capacity expansion plans for 2024-25 will undergo considerable changes since the refinery additions at Lanjigarh are expected to be completed by the end of FY2025.
They are also finishing the growth of their value-added offerings. They are growing the capacity of their rolled products company by adding billet capacity and foundry alloy capacity, raising it from 44,000 metric tons to around 100,000 metric tons.
The shares of the company have given 48.38 percent in just six months and a 77.44 percent return in a year.
Shareholding pattern:-
According to the recent shareholding pattern, the promoter owns 56.38 percent, a retail investor owns 15.11 percent, domestic institutional investors own 15.65 percent, and foreign institutional investors 12.61 percent.
Company Snapshot:-
Vedanta Limited is an India-based natural resource business. The Company’s operations include oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminum, power, and glass substrates. The Company offers a diverse product line, including aluminum ingots, main foundry alloys, wire rods, billets, and rolled products for various sectors.
Written by:- Abhishek Singh
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