After announcement of rating upgrade by Crisil and board meeting update on third interim dividend, Vedanta share price today surged around 5 per cent in early morning deals. Vedanta shares today opened with an upside gap of Rs7.85 on NSE and went on to ascend to its intraday high of Rs355.85 apiece levels. According to stock market investors, Vedanta shares are available at an attractive valuation and there won't be much fall in the stock even if current rise in stock market today turns out a relief rally. They suggested positional investors to add this commodity stock in their portfolio for up to 30 per cent gain in long term.

Highlighting the reasons for rise in Vedanta shares; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Current rise in Vedanta shares can be attributed to two short term sentiments — Crisil upgrading Vedanta rating and Vedanta announcing record date for third interim dividend. These two have gone down well among the market investors. But, the stock looks promising from long term perspective too as it is available at an attractive valuations and commodity cycle still looks strong."

Avinash Gorakshkar said that Vedanta shares are already available at discounted price and in case early morning gains turn out a relief rally it won't fall much from current levels. He advised long term investors to keep accumulating on dips as it may give 25 to 30 per cent return in long term.

Advising buy on dips strategy to positional investors; Sumeet Bagadia, Executive Director at Choice Broking said, "Vedanta shares have bounced after correction in recent trade sessions. However, positional investors are advised to take fresh position at around Rs345 to Rs350 levels maintaining stop loss at Rs335 apiece levels. Those who have this stock in their portfolio can maintain a trailing stop loss at Rs335 levels for immediate short term target of Rs375 to Rs380 levels."

Crisil upgrading Vedanta rating

In exchange communication, Vedanta today informed Indian exchanges that rating agency Crisil has upgraded its rating citing, "Pursuant to Regulation 30 and 51 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that CRISIL Ratings has upgraded its long-term rating of the Company to 'CRISIL AA' from 'CRISIL AA-', and has revised the outlook to 'Stable' from 'Positive' on February 25, 2022."

This is second good news for investor from the company in last two days as on 23rd February 2022, Vedanta had informed Indian exchanges about the record date of interim dividend citing, "Please note that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Thursday, March 10, 2022."