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Coronavirus outbreak adds to Vedanta's woes as base metal prices fall

Outbreak has led to a fall in base metal prices; production ramp-up in oil & gas and zinc biz crucial, say analysts

Ujjval Jauhari  |  New Delhi 

The Vedanta stock has declined close to 16 per cent since its mid-January highs. While volatility and pressure on commodity prices have hurt investor sentiment, the coronavirus outbreak has aggravated concerns.

The impact on demand for base metals from China may put further pressure on realisations, impacting players such as Vedanta. The price of Brent crude oil, too, has corrected from about $70 a barrel to nearly $55 a barrel now. This, again, is not good news for the oil & gas segment of Vedanta, as it contributed slightly less than a fifth to the firm’s overall revenues ...

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First Published: Wed, February 05 2020. 00:34 IST
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