Vedanta shares rise after 3-consecutive days of fall. The company has by now paid all it's debts and their encumberance lifted.

Early Today, Vedanta’s 3-day-long fall in shares raised. The company had repaid all the loans from Standard Chartered Bank against the shares of the company.

Stocks of the company raised from Rs.274.80 to Rs. 278.45 on the Bombay Stock Exchange. As per Business Standards, It had hit a 52-week high of Rs. 372 last year in May and a 52-week low of Rs. 206.10 last June.

In terms of Relative Strength Index(RSI) stands at 44.5, which tells that the stock is neither oversold nor overbought. The company’s shares are trading lower than 5-day, 50-day, and 200-day moving averages and higher than 20-day moving averages.

The late April, the company paid all the loans and bonds it had, which cut its gross to $ 6.8 billion and but after April 2023, Vedanta’s Gross Debt was reduced to $1 billion. The debt of $800 million the corporation owed has been fully settled against its stock, leaving no outstanding balance. Hence, All shares have their encumbrance lifted.

Updating about its Q4, the mining company further said that the total aluminum production came almost flat. The total production however, rose 0.3 percent to 574kt in Q4 compared to 572kt in the last fiscal. It’s also added that cast-metal aluminum production rose about 1% quarter on quarter with the Jharsuguda ramp-up.

The company will release its Q4 and annual earnings for the fiscal year in a few days!

- Kratika Agarwal

Also, Read Fifth largest manufacturer has filed it's DRHP


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