Buy Vedanta, target price Rs 330: Edelweiss

Edelweiss Financial Services has buy call on Vedanta Ltd. with a target price of Rs 330.

The current market price of Vedanta Ltd. is Rs 312.15 Time period given by analyst is Intra Day when Vedanta Ltd. price can reach defined target.

Vedanta Ltd., incorporated in the year 1965, is a Large Cap company (having a market cap of Rs 116050.88 Crore) operating in Diversified sector.



Vedanta Ltd. key Products/Revenue Segments include Aluminium, Copper, Iron Ore, Oil & Gas, Power, Export Incentives, Other Operating Revenue, Scrap for the year ending 31-Mar-2021.

Financials

For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 29151.00 Crore, up .30 % from last quarter Total Income of Rs 29065.00 Crore and up 71.50 % from last year same quarter Total Income of Rs 16998.00 Crore. Company reported net profit after tax of Rs 5282.00 Crore in latest quarter.

Investment Rationale
A breakout above the swing highs of consolidation reinforces the bullish momentum.

Promoter/FII Holdings
Promoters held 65.18 per cent stake in the company as of 30-Jun-2021, while FIIs owned 11.39 per cent, DIIs 9.5 per cent.

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