Shares of Vedanta fall as Nifty drops

Shares of Vedanta fall as Nifty drops
ETMarkets.com
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 342.74.

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India 10-year bond yield fell 0.41 per cent to 5.89 after trading in 5.87-5.91 range
Shares of . slipped 6.27 per cent to Rs 299.7 in Thursday's trade as of 01:39PM (IST). It hit a high of Rs 311.6 and low of Rs 298.2 during the session.

The stock quoted a 52-week high price of Rs 440.75 and a low of Rs 242.6. The return on equity for the stock stood at 28.75 per cent. About 403,461 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.4.

The scrip has been an underperformer, up 6.07 per cent in the past one year in comparison with a 7.51 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 242.6 on May 19, while the 50-DMA was at Rs 388.49. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 0.0 per cent stake in Vedanta Ltd. as of 31-Mar-2022. Mutual funds and foreign institutional investors held 1.93 per cent and 9.35 per cent stake.
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