Vedanta will announce its Q4 and annual earnings for the fiscal ended March on May 12, 2023. Vedanta will announce its Q4 and annual earnings for the fiscal ended March on May 12, 2023. Vedanta will announce its Q4 and annual earnings for the fiscal ended March on May 12, 2023. Shares of Vedanta Ltd rose over a per cent in early trade today after three days of consecutive fall after the company said it has repaid $800 million of loans taken from Standard Chartered Bank against the company’s shares. The mining giant said all debt repayments coming up in the current cycle have been made and there was no outstanding amount. Subsequently, the encumbrance on all shares was released.
Vedanta stock rose 1.32% to Rs 278.45 against the previous close of Rs 274.80 on BSE. Market cap of the firm rose to Rs 1.03 lakh crore. In a year, the stock is down 23% and fallen 10% this year. It hit a 52 week high of Rs 372 on May 6, 2022 and a 52-week low of Rs 206.10 on July 1, 2022.
In terms of technicals, the relative strength index (RSI) of Vedanta stands at 44.5, signaling neither the stock is overbought nor oversold. The stock has a one-year beta of 1.6, indicating very high volatility during the period. Vedanta shares are trading higher than the 20 day moving averages but lower than 5 day, 50 day, 100 day and 200 day moving averages.
The PE ratio of Vedanta stands at 7.12 signaling the stock is undervalued compared to the industry. The PE of the mining industry stands at 14.39.
The repayments released the encumbrances created on the shares of its unit Vedanta Ltd., it said.
In late April, the company had paid all loans and bonds due last month, cutting its gross debt to $6.8 billion. Vedanta Resources Limited announced that it has paid all its maturing loans and bonds due in April 2023, thereby reducing its gross debt by a further $1 billion.
In its Q4 update, the Mumbai-based mining company said that its total aluminium production almost came flat. Vedanta said total aluminium production rose 0.3 percent at 574 kt in Q4 as compared to 572 kt in the same period last fiscal. It also added that the cast metal aluminium production rose 1 percent quarter-on-quarter with Jharsuguda ramp up.
The firm will announce its Q4 and annual earnings for the fiscal ended March on May 12, 2023.