Vedanta firms up ahead of board meeting

Vedanta rose 3.07% to Rs 203.10 at 10:31 IST on BSE ahead of the company's board meeting later today, 22 November 2016, to consider raising Rs 300 crore by issuing rated secured redeemable non-convertible debentures.

Meanwhile, the BSE Sensex was up 119.70 points, or 0.46%, to 25,884.84.

On BSE, so far 4.06 lakh shares were traded in the counter, compared with average daily volume of 11.33 lakh shares in the past one quarter. The stock hit a high of Rs 204.85 and a low of Rs 199.10 so far during the day. The stock hit a 52-week high of Rs 233.65 on 10 November 2016. The stock hit a 52-week low of Rs 58.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 November 2016, falling 3.10% compared with the 8.23% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.15% as against Sensex's 7.95% decline.

The large-cap company has equity capital of Rs 296.47 crore. Face value per share is Re 1.

On a consolidated basis, Vedanta's net profit rose 17.14% to Rs 1252.13 crore on 4.13% decline in net sales to Rs 15665.64 crore in Q2 September 2016 over Q2 September 2015.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.

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