Mining giant Vedanta will report its fourth quarter results later in the day and the company is expected to post muted numbers, according to various analysts’ estimates. Adjusted net profit for the March quarter is likely to fall over 30% year-on-year, while revenues are seen falling up to 12% year-on-year. During the quarter under review, … Read more
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 … Read more
Nifty Bank, which hit a fresh lifetime high above 49,000 last week, has given an average return of 5% during the March quarter earnings season 7 out of 10 times in the last 10 years, says Anand James, Chief Market Strategist, Geojit Financial Services. Edited excerpts from a chat with James on the market outlook … Read more
Having compounded at a healthy CAGR of 15.85% since inception in 1949, Sensex scaled the 75,000 peak this week with bulls predicting that the 1 lakh milestone will come within the next five years. Market guru Raamdeo Agrawal has even predicted that the headline index should touch 1.5 lakh by 2029. Describing Sensex as the … Read more
Metal stocks jumped 11% on Tuesday, led by Hindustan Copper and Hindustan Zinc, amid a slew of triggers like strong Q4 updates and improving manufacturing outlook in the world’s two largest economies – China and USA. The other major gainers were Vedanta and Steel Authority of India (SAIL) which rose over 4.5% in intraday trade. … Read more
Technical charts indicate a continuation of the positive trend going ahead, with the India VIX currently trading below 12. Any market dip presents a buying opportunity, as technical analysts predict Nifty will move towards the 22,800-23,000 levels soon. Stocks such as Vedanta, Hindalco, JSW Steel, City Union Bank, Canara Bank, HDFC Bank, ABB, ITC, HUL, … Read more
Mumbai: An Oaktree Capital fund invested ₹1,600 crore in 18-month bonds raised by Sesa Resources, a wholly owned subsidiary of Mumbai-listed Vedanta, people with knowledge of the matter told ET. The bonds are initially garnered at a 10% coupon but will be raised to 15% in the event of a default, they added. The funds … Read more
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The Indian market is likely to consolidate on Thursday tracking muted global cues. The Nifty future closed negative with losses of 1.66% at 22,073 levels on Wednesday. India VIX was up 5.79% from 13.64 to 14.43 levels. Positive setup was seen in stocks like Abbot India, ICICI Bank, and Bajaj Finance while weakness in NALCO, … Read more
Mining conglomerate Vedanta has been warned by markets regulator Sebi to strengthen its internal control for corporate announcements and press releases. Vedanta told exchanges that it has received a letter from NSE, annexing a letter issued by Sebi in which an administrative warning has been issued to Vedanta. “The company has been directed to place … Read more
