Share price of Vedanta falls as Nifty strengthens

Shares of . slipped 2.53 per cent to Rs 302.55 in Tuesday's trade as of 02:06PM (IST). The stock hit a high price of Rs 303.0 and low of Rs 295.5 during the session.

The return on equity (ROE) for the stock stood at 28.75 per cent. Traded volume on the counter stood at 02:06PM shares and turnover at Rs 20.34 crore around that time. The stock of Vedanta Ltd. quoted a 52-week high price of Rs 440.75 and 52-week low prices of Rs 206.1, respectively.

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

Promotor/FII Holding
Promoters held 0.0 per cent stake in the company as of 30-Jun-2022, while FIIs held 8.68 per cent and domestic institutional investors had 2.1 per cent.

Key Financials
The company reported consolidated sales of Rs 37351.0 crore for the quarter ended 30-Sep-2022, down 5.09 per cent from previous quarter's Rs 39355.0 crore and down 20.2 per cent from the year-ago quarter's Rs 31074.0 crore. Net profit after tax for the latest quarter stood at Rs 1808.0 crore, down 60.82 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.