Vedanta Share Price: The share price of mining sector giant Vedanta Limited rose 3 per cent on Tuesday to reach its new 52-week high. In March 2020, the price of Vendata’s shares had come down to a low of Rs 64 and since then it has gained more than 550 per cent. Even its shares have lost over 13 per cent since the beginning of 2022.
In a recent analyst meeting, the company’s management explained its plan to reduce debt at the parent company level and said they expect strong demand for metals and minerals in the future, given the buoyant demand for electric vehicles and renewable energy. . Many analysts have also expressed hope for a further rise in Vedanta’s shares and have given buy advice. On Tuesday, shares of Vedanta closed at Rs 404.40, up 1.09 per cent on the NSE.
What is the opinion of analysts regarding the share of Vedanta Limited, let’s know-
Systematics Institutional Equities has given a ‘BUY’ rating on Vedanta and has a buy call with a target price of Rs 567. The brokerage said, “Concerns related to inter-corporate deposits, high debt at the parent level and the cyclical nature of its business have resulted in low participation from institutional investors in Vedanta. LIC has been an exception to this. Leaving aside, mutual funds and insurance companies hold only 1.17 per cent and 0.62 per cent, respectively, in Vedanta, when Vedanta is the third-highest profit maker after Reliance Industries and Tata Steel in the country’s list of manufacturing companies. company.”
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The brokerage firm said, “We believe that the withdrawal of investors from Vedanta’s stock is unfair. It is also to be noted that Jindal Steel & Power and JSW Steel have huge promoter level debt and yet the investor participation in them is high. We believe that increased investor engagement, a more regular dividend policy and a balanced approach to new ventures could lead to re-rating of Vedanta shares.”
IIFL Securities
IIFL Securities has ‘Add’ advise to the shares of Vedanta Limited with a target price of Rs.424. The brokerage said, “During the analyst meeting, the chairman of Vedanta has stated the top priority is to reduce debt at the parent level by $5 billion over the next three years, and also to pay an annual dividend of $2 billion this year even more than before. ” The brokerage said Vedanta has a large capital spender and will play a key role in growth.
Motilal Oswal
Fundamental Analyst at Motilal Oswal has given a target price of Rs 459 to Vedanta Limited with a ‘Neutral’ rating. The brokerage said that the stock has already given returns of over 80 per cent in the last one year and as such, it is not expected to see a significant jump in the near-term.
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