Vedanta Ltd Share Price – NSE /  BSE

Mining & Mineral products, Mid Cap

Vedanta Ltd is down for a fifth straight session today. The stock is quoting at Rs 491.7, down 1.02% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.06% on the day, quoting at 23942.900390625. The Sensex is at 79220.66, down 1.2%.Vedanta Ltd has added around 11.04% in last one month.Meanwhile, Nifty Metal index of which Vedanta Ltd is a constituent, has increased around 2.66% in last one month and is currently quoting at 9069.9, down 1.33% on the day. The volume in the stock stood at 73.76 lakh shares today, compared to the daily average of 111.81 lakh shares in last one month.

The benchmark December futures contract for the stock is quoting at Rs 484.55, down 0.96% on the day. Vedanta Ltd jumped 95.55% in last one year as compared to a 13.2% rally in NIFTY and a 20.59% spurt in the Nifty Metal index.

The PE of the stock is 12.63 based on TTM earnings ending September 24.

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The headline equity benchmarks traded with modest losses in early trade. The Nifty slipped below the 24,600 level. Oil & gas, private bank and bank shares declined while realty, media and auto shares advanced.

At 09:29 IST, the barometer index, the S&P BSE Sensex, declined 230.34 points or 0.30% to 81,518.33. The Nifty 50 index lost 73.60 points or 0.30% to 24,594.65.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.20% and the S&P BSE Small-Cap index rose 0.21%.

The market breadth was postive. On the BSE, 1,893 shares rose and 1,249 shares fell. A total of 100 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 278.70 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 234.25 crore in the Indian equity market on 13 December 2024, provisional data showed.

Stocks in Spotlight:

Vedanta shed 0.35% to Rs 511.60. The company’s board approved the fourth dividend of Rs 8.5 per share for FY25 amounting to Rs 3,324 crore. The board has fixed 24 December 2024 as record date for the purpose of dividend payment

Hindustan Petroleum added 0.58%. The company’s board approved the lube modernization and bottoms upgradation project at Mumbai Refinery. This project would increase the Lube Oil Base Stocks (LOBS) production from current 475 KTPA to 764 KTPA. The estimated cost of this project is Rs. 4679 crore with a Mechanical completion schedule of 36 months and 3 months for commissioning from the date of Board approval.

Shriram Properties lost 0.17%. The company’s chairman and managing director, M Murali and promoter of the company has received approval from Securities and Exchange Board (SEBI) for acquisition of 13,38,335 equity shares of Shriram Properties Holdings (SPHPL) from Shriram Group Executive Welfare Trust (SGEWT), another Promoter of the company.

Numbers to Track:

The yield on India's 10-year benchmark federal paper gained 0.15% to 6.861 as compared with previous close 6.851.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 84.9175, compared with its close of 84.9100 during the previous trading session.

MCX Gold futures for the 5 February 2024 settlement rose 0.06% to Rs 77,108.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 106.81.

The United States 10-year bond yield declined 0.10% to 4.395.

In the commodities market, Brent crude for February 2024 settlement lost 08 cents, or 0.11% to $73.83 a barrel.

Global Markets:

Asian shares were mixed on Tuesday as investors awaited a crucial week for central bank policy decisions. The U.S. Federal Reserve is widely expected to cut rates on Wednesday, while the Bank of Japan is likely to maintain its current stance.

This week sees policy meetings from central banks in the United States, Japan, UK, Sweden, Norway, Indonesia, and Thailand. The Bank of England, Norges Bank, and Bank of Thailand are anticipated to hold rates steady, while the Riksbank might opt for a rate cut. Bank Indonesia is expected to raise rates to support the weakening rupiah currency.

Data released on Monday revealed a steeper-than-expected slowdown in China's consumer spending during November, negatively impacting stocks. Retail sales rose only 3% year-on-year, which is the weakest growth in three months and significantly lower than October's 4.8% increase.

In the US, major US technology stocks continued their upward momentum on Monday, propelling the Nasdaq Composite to record highs. However, the Dow Jones Industrial Average lagged behind, reflecting ongoing investor uncertainty about economic policies under the new administration.

The S&P 500 rose 0.38% to 6,074.10 points, while the NASDAQ Composite surged 1.24% to a record high of 20,204.58 points. The Dow Jones Industrial Average fell 0.25% to 43,717.48 points.

The chip sector experienced a rally, mirroring Broadcom Inc.'s continued gains fueled by strong earnings and guidance related to artificial intelligence. The prospect of lower interest rates in the near future also boosted other prominent tech companies like Apple, Amazon, and Alphabet.

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Securities in F&O Ban:

Granules India, Hindustan Copper, Manappuram Finance, National Aluminium, RBL Bank, SAIL shares are banned from F&O trading on 17 December 2024.

Stocks to Watch:

Vedanta’s board approved the fourth dividend of Rs 8.5 per share for FY25 amounting to Rs 3,324 crore. The board has fixed 24 December 2024 as record date for the purpose of dividend payment

Hindustan Petroleum board approved the lube modernization and bottoms upgradation project at Mumbai Refinery. This project would increase the Lube Oil Base Stocks (LOBS) production from current 475 KTPA to 764 KTPA. The estimated cost of this project is Rs. 4679 crore with a Mechanical completion schedule of 36 months and 3 months for commissioning from the date of Board approval.

Shriram Properties‘ chairman and managing director, M Murali and promoter of the company has received approval from Securities and Exchange Board (SEBI) for acquisition of 13,38,335 equity shares of Shriram Properties Holdings (SPHPL) from Shriram Group Executive Welfare Trust (SGEWT), another Promoter of the company.

Murali now holds 9,15,501 shares, representing 48.47% of equity in SPHPL (implying indirect holdings of 13.44% in the Company).

Texmaco Rail and Engineering has received an order from Chhattisgarh State Power Transmission, Government of Chhattisgarh for construction of transmission lines on turnkey basis valuing Rs 187.41 crore approximately.

Everest Industries’ chief financial officer, Pramod Nair has resigned with effect from 10 January 2025.

Wipro through its subsidiaries has signed definitive agreement to acquire 100% shareholding in Applied Value Technologies (AVT), Inc., Applied Value Technologies B.V. and Applied Value Technologies Pte. AVT helps enterprises transform IT operations through a highly customized and data-driven approach. AVT will augment Wipro’s existing application services capabilities, helping drive new growth opportunities.

PNB Gilts’ managing director and chief executive officer (CEO), Vikas Goel has resigned citing personal reasons.

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Vedanta announced that the ratings on Non-Convertible Debentures (NCDs) have been upgraded to “IND AA-/Rating Watch with Developing Implications” and the rating on Commercial Paper has been withdrawn.

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