The last few months have seen Vedanta take off nearly vertically, from a low near ₹95, to nearly ₹300! And in last few weeks, the stock has taken a breather, finding strong support near ₹250.
This consolidation above ₹250 looks like becoming the foundation for the next leg up in the stock.
The recent win by Anil Agarwal owned Twin Star, in acquiring assets of Videocon on the cheap, are unconnected to Vedanta - but they indicate that the risk to Vedanta from over leveraged promoter may be receding.
The coal blocks won by Vedanta in e-Auctions also addresses their own captive power and fuel needs in a powerful way.
This is a stock with attractive dividend yield, and it is trading at very low multiples. It’s stake of Hindustan Zinc alone manages to justify its current market cap!
One stock poised to perform well for the future.
This consolidation above ₹250 looks like becoming the foundation for the next leg up in the stock.
The recent win by Anil Agarwal owned Twin Star, in acquiring assets of Videocon on the cheap, are unconnected to Vedanta - but they indicate that the risk to Vedanta from over leveraged promoter may be receding.
The coal blocks won by Vedanta in e-Auctions also addresses their own captive power and fuel needs in a powerful way.
This is a stock with attractive dividend yield, and it is trading at very low multiples. It’s stake of Hindustan Zinc alone manages to justify its current market cap!
One stock poised to perform well for the future.