Vedanta: Rising commodity prices, dividend hopes augur well for the stock

Market experts say the stock had seen good gains in the past two months and touched Rs 140 levels in expectation of the delisting going through at Rs 170-plus per share

Vedanta’s stock plunged more than 20 per cent on Monday after the failed delisting attempt by its promoter and founder, Anil Agarwal-led Vedanta Resources (VRL). The stock had already corrected 11 per cent in the previous three trading sessions.

The stock had seen good gains in the past two months and touched Rs 140 levels in expectation of the delisting going through at over Rs 170 per share. Many investors had bought the company’s shares of late to benefit from delisting, but have now turned into sellers, leading to pressure on the stock. Once this selling gets over, the stock will