Vedanta gained 2.72% to Rs 281.60 at 11:00 IST on BSE, with the stock extending previous sessions' gains triggered by the company reporting strong Q1 results.
The result was announced at the fag end of market hours yesterday, 25 July 2017. The stock had risen 3.66% to Rs 274.40 yesterday, 25 July 2017.Meanwhile, the S&P BSE Sensex was up 71.77 points or 0.22% at 32,300.04.
On the BSE, 7.5 lakh shares were traded on the counter so far as against the average daily volumes of 10.48 lakh shares in the past one quarter. The stock had hit a high of Rs 282.95 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 278 so far during the day. The stock had hit a 52-week low of Rs 154 on 2 August 2016.
The stock gained 15.93% over the past one month till 25 July 2017, outperforming the Sensex's 3.5% rise. The scrip had also outperformed the market in past one quarter, rising 16.57% as against Sensex's 7.63% rise. The scrip had also outperformed the market in past one year, jumping 59.63% as against Sensex's 14.71% rise.
The large-cap company has equity capital of Rs 371.72 crore. Face value per share is Re 1.
Vedanta's consolidated net profit rose 67.15% to Rs 2270 crore on 26.72% growth in revenue to Rs 18203 crore in Q1 June 2017 over Q1 June 2016.
Revenue was higher due to higher volume at Zinc India & ramp-up at aluminium business and higher commodity prices partially offset by currency appreciation, lower volume at Copper India and iron ore and pot outages at 500 kilotonnes Jharsuguda-I smelter and TSPL fire incident in 17 April 2017.
Earnings before interest, tax, depreciation and amortization (EBITDA) rose 40% to Rs 4965 crore in Q1 June 2017 over Q1 June 2016, driven by higher commodity prices, higher volumes and cost savings. This was partially offset by currency appreciation, input commodity inflation and lower plant availability at TSPL. EBITDA margin rose to 36% in Q1 June 2017 from 32% in Q1 June 2016, on increased volumes and cost efficiencies.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power.
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