As soon as the market opened, this company’s stock took off like a rocket, jumping 3.84% on the BSE.
Vedanta Shares Take Off: As soon as the stock market opened, Vedanta Limited’s shares skyrocketed. On Wednesday, December 11, 2024, at 9:59 AM, Vedanta’s stock jumped 3.84%, trading at Rs 519.40. Meanwhile, the BSE benchmark Sensex rose by 43.84 points, reaching 81,553.89. The previous day, the stock closed at Rs 500.15. Over the past year, it has hit a high of Rs 523.60 and a low of Rs 243.70. Increased Investor Interest: There has been a noticeable rise in investor interest in Vedanta shares, driven by positive signals in the energy and mineral sectors. According to BSE data, by 9:59 AM on Wednesday, a total of 279,446 shares had traded, amounting to a turnover of Rs 14.32 crore. A report from the Economic Times noted that at the current price, the company’s shares are trading at 17.94 times their earnings of Rs 29.00 per share over the last 12 months and 3.29 times their book value. Vedanta Group’s Profits: The Vedanta Group reported a net profit of Rs 4,352 crore for the second quarter of FY 2025 (covering July to September 2024). This marks a significant improvement compared to a loss of Rs 1,783 crore during the same period last year. However, the company’s operating income fell by 3.4% year-on-year to Rs 37,634 crore, down from Rs 38,945 crore in the same quarter last year. Stability in Operations: On the operational front, the company’s earnings before interest, tax, and depreciation (EBITDA) decreased by 14.4%, dropping to Rs 9,828 crore from Rs 11,479 crore last year. The EBITDA margin also fell to 26.1%, down from 29.5% in the previous quarter. Despite these challenges, a net profit of Rs 1,868 crore and a reduction in tax expenses have strengthened the company’s overall profit. These financial improvements are attributed to Vedanta’s strong performance and effective cost management, reflecting stability in its operations. However, fluctuations in commodity prices and operational challenges have impacted earnings.
