Vedanta Ltd. board on Wednesday considered and approved a plan to raise up to Rs 3,000 crore via bonds. The company will issue unsecured, rated, listed, redeemable, non-convertible debentures on a private placement basis.
The metals-to-oil conglomerate reported a 60% jump in net profit at Rs 7,807 crore in the third quarter on strong base metal prices. Quarterly revenue climbed 19% to Rs 45,899 crore, supported by stronger LME prices, higher sales volumes, improved premiums, and favourable currency movements.
Vedanta has announced a capital expenditure plan of $1.5–1.7 billion for the financial year 2025–26, following a $1.5 billion investment in FY25. The investment focuses on capacity expansion in aluminium, zinc, power, and oil & gas to drive growth, with a larger $10 billion, 3-year plan targeting, among other things, 5 MTPA alumina capacity by FY26.
Shares surged as much as 5.4% intraday to Rs 732.35 on the NSE, compared to a 0.2% advance in the benchmark Nifty 50. The stock is up 77% in the last 12 months.
Of the 14 analysts with coverage on this stock, 10 have a 'buy' rating on it, and four have a 'hold' call. The upside potential is of 6%, with a 12-month target price of Rs 763.08, as per Bloomberg.
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