Stock of mining major Vedanta climbed nearly 4.5 per cent today after the Anil Agarwal-led firm announced its earnings for the quarter ended June 2022. Vedanta stock opened marginally higher at Rs 245.95 against the previous close of Rs 245.50. Shares of Vedanta touched an intraday high of Rs 256.4, rising 4.44 per cent on BSE.
Shares of mining major Vedanta climbed over 8 per cent today after the Anil Agarwal-led firm announced second interim dividend of Rs 19.50 per share. Sentiments around the stock also turned positive with the government cut the tax on domestically produced crude to Rs 17,000 a tonne, effective July 20. Cairn Oil and Gas, the company's subsidiary has 51 oil and gas blocks across the country.
Shares of the multinational miner Vedanta gained over 4 per cent today as investment bank JPMorgan turned bullish on the Anil Agarwal-owned firm. The brokerage gave a target price of Rs 490, 121 per cent higher to the previous close of Rs 221.40 The large cap stock opened with a gain of 2.82 per cent at Rs 227.65 today
Shares of Vedanta hit a fresh 52-week high today after Bank of America Securities upgraded the large cap stock to a 'buy' from 'neutral'. The brokerage also raised the target price to Rs 485 against its earlier target of Rs 365. The new target price translates into an upside of over 20 percent compared to the close of Rs 400 on March 21.