Use the rally in Vedanta to exit the stock: Analysts

Vedanta on Tuesday inked a pact with the Gujarat government under which the company, along with Taiwan's Foxconn, will jointly invest $19.5 billion to set up a semiconductor project in the state.

The share price of Vedanta zoomed nearly 10 per cent to close at Rs 305 on Wednesday as investors lapped up the stock after the company said it will set up India’s first semiconductor plant in Gujarat.

Vedanta on Tuesday inked a pact with the Gujarat government under which the company, along with Taiwan’s Foxconn, will jointly invest $19.5 billion (Rs 1.54 trillion) to set up a semiconductor project in the state. As per the agreement, the Vedanta – Foxconn joint venture (JV) plans to build separate units for semiconductor and display production near Ahmedabad.

While the plans are big