Vedanta shares drop 1.55% as Sensex falls

Shares of Vedanta Ltd. traded 1.55 per cent lower in Thursday's session at 01:59PM (IST). The stock opened at Rs 231.8 and has touched an intraday high and low of Rs 231.8 and Rs 227.6, respectively, during the session so far.

The stock quoted a 52-week high of Rs 340.75 and a 52-week low of 227.6. About 362,080 shares changed hands on the counter so far.

Benchmark Nifty50 was down 160.15 points at 19741.25, while the BSE Sensex traded 585.51 points lower at 66215.33 at the time of writing of this report.

In the Nifty pack, 12 stocks traded the day in the green, while 38 were in the red.


Key Financials
For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 34279.0 crore, down 11.27 per cent from the previous quarter's Rs 38635.0 crore and down 12.9 per cent from the year-ago quarter. The company reported net profit of Rs 2640.0 crore for the latest quarter.

Promoter Holdings
Promoters held 68.11 per cent stake in the company as of 30-Jun-2023, while FIIs held 7.48 per cent and MFs 0.25 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 282.74 on September 21, while the 50-DMA was at Rs 250.68. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.