Vedanta shares may cross Rs 640, experts say buy shares

Vedanta Limited

Vedanta Limited shares have seen a stormy rise in 3 months. Vedanta shares have climbed more than 77 percent in 3 months. Market experts say that Shares of Vedanta will continue to increase. Domestic brokerage house Nuvama Institutional Equities has visited Vedanta’s plants (aluminum plant in Jharsuguda, Odisha and zinc mines and smelter in Dariba, Rajasthan) and has maintained a buy rating on the company’s shares. This has been said in a report by CNBC-TV18

Target of Rs 644 given

Domestic brokerage firm Nuvama Institutional Equities has given a price target of Rs 644 for Vedanta Limited shares. The brokerage house has earlier given a target of Rs 542 for Vedanta shares. The brokerage house has maintained a positive stance on Vedanta in view of cost reduction, volume growth in aluminum and demerger of business. The proposed demerger of the Anil Agarwal-led company will separate the existing business into 6 independent companies. According to reports, State Bank of India (SBI) has given its approval to the proposed demerger of Vedanta.

Shares rise more than 77% in 3 months

Vedanta limitedshares have risen more than 77 percent in the last 3 months. The company’s shares were at Rs 251.85 on March 13, 2024. On June 14, 2024, Vedanta shares closed at Rs 447.10 on the Bombay Stock Exchange. Vedanta shares have risen more than 107 percent in the last 8 months. The company’s shares were at Rs 215.70 on October 27, 2023. Vedanta shares have crossed Rs 447 on 14 June 2024. The 52-week high level of the company’s shares is Rs 506.85. At the same time, the 52-week low level of Vedanta shares is Rs 207.85.

A gift of bonus shares has been given by the corporation.

Since 2008, investors have received bonus shares as a gift from Vedanta Limited. The company has given bonus shares in the ratio of 1: 1 in April 2008. That is, the company has given 1 bonus share on every share.

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