Good news on all fronts for Vedanta

Earnings to grow by 25 per cent annually over FY17-19 on firm base metal outlook

For Vedanta, it seems that almost everything is falling in place. First, with base metal prices rebounding, its business prospects have improved. The company’s operating profits in December quarter was the highest in last seven quarters. Not surprisingly then, its stock price has grown more than three-folds from lows of Rs 60 last February to highs of Rs 275.40 in March 2017; and closed at Rs 267 on Friday. Despite this rally, there are more triggers and as the outlook remains firm there could be more gains ahead. 

Base metals have seen a strong run with zinc the best performer.