Vedanta Q4 earnings: Kotak Institutional Equities sees Vedanta reporting 34.20 per cent YoY drop in adjusted profit at Rs 2,038.70 crore compared with Rs 3,099 crore YoY.
A rise in tariff levels has become almost a certainty after Reliance Jio reported flat average revenue per user for two consecutive quarters, say analysts.
Vedanta shares climbed 5.63 per cent to hit high of Rs 357.25. At this price, CLSA's target price still suggests a 9.16 per cent potential upside ahead.
I do not say that these structural drivers were missing. It is just about that the sector was out of the flavour from last four to five quarters because of the near-term headwinds. But now it looks like the headwinds are over and we should be seeing the sequential recovery in place while the structural driver are already in place.