Vedanta gains on bargain hunting

Vedanta rose 1.09% to Rs 83.15 at 14:02 IST on BSE, on bargain hunting after declining 12.73% in preceding five trading days to settle at Rs 82.25 yesterday, 9 December 2015 from a recent high of Rs 94.25 on 2 December 2015.

Meanwhile, the BSE Sensex was up 179.88 points, or 0.82%, to 25,241.32

On BSE, so far 12.33 lakh shares were traded in the counter, compared with an average volume of 15.80 lakh shares in the past one quarter.

The stock hit a high of Rs 84.15 and a low of Rs 81.30 so far during the day. The stock hit a 52-week high of Rs 233.45 on 11 May 2015. The stock hit a 52-week low of Rs 76.70 on 25 August 2015.

The stock had underperformed the market over the past one month till 9 December 2015, sliding 12.17% compared with 4.16% fall in the Sensex. The stock had also underperformed the market in past one quarter, declining 17.63% as against Sensex's 2.66% fall.

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

On a consolidated basis, Vedanta's net profit fell 39.9% to Rs 973.97 crore on 15.9% drop in net sales to Rs 16349.21 crore in Q2 September 2015 over Q2 September 2014.

Vedanta (formerly Sesa Sterlite) is a diversified natural resources company. The company produces zinc, lead, silver, copper, iron ore and aluminium.

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