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Commodity rally, cheaper valuation to support Vedanta stock in medium term
Analysts expect the company’s operating profit before depreciation and amortisation (EBITDA) to increase by 12% to Rs 31,500 crore next fiscal year.
Synopsis
The stock still trades below the five-year average valuation multiple despite a 25% rise over the past month.
ET Intelligence Group: Buoyant commodity prices are helping the stock of Vedanta to show resilience amid the current volatility in the broader market. The mining conglomerate is the only listed Indian company that offers exposure to several commodities at once including zinc, aluminium, lead, silver, copper, iron ore, steel and crude oil.