Kotak Institutional Equities has upgraded earnings estimates and also raised the target price for Vedanta Ltd, National Aluminum Co Ltd, and Hindalco Industries Ltd following the recent rally in metal prices globally.The brokerage raised Vedanta’s target price by 25.5 percent to Rs 320 a share. The target price for National Aluminum has been raised to Rs 130 from Rs 90 and that of Hindalco Indus...

Vedanta Ltd. has mandated JPMorgan Chase & Co. to help it raise 25 billion rupees ($300 million) via rupee-denominated bonds, according to people familiar with the matter.JPMorgan’s financing solutions department in India, headed by Nitin Rungta, is reaching out to potential investors on behalf of the metals and mining company, according to people who asked not to be identified as the informatio...

CLSA has upgraded Vedanta's rating from 'reduce' to 'buy' and raised the target price to Rs 390 from Rs 360 with an eye on the rise in commodity prices.Following the rating upgrade, shares of Vedanta rose as much as 7.7 percent to hit a 52-week high of Rs 364.60 on April 10. In the past year, the stock has gained 34 percent.The company is favorably positioned to capitalize on the commodity upcycle...

Vedanta aims to slash debt by $3 billion in three years, Vedanta anticipates an EBITDA of approximately $6 billion in FY25, with a growth rate exceeding 35 percent.Mining conglomerate Vedanta is aiming to reduce its standalone debt by $3 billion over the next three years, an investor presentation released after an analyst meeting on February 27 said.As of December 31, 2023, the company's net debt ...

Vedanta promoters can sell, and dispose of shares as lender lifts restrictions, The company's promoter Anil Agarwal had pledged the mining company's stake from 2020 onwards in a bid to raise funds. According to the filing, the promoters had pledged 63.71% of the sharesThe promoters of Vedanta Ltd can sell or dispose of their shares in the mining company after a charge created by its lender, OCM Ve...