Vedanta spurts on reporting 3% increase in aluminium production in Q1FY23

Vedanta is currently trading at Rs. 221.15, up by 4.50 points or 2.08% from its previous closing of Rs. 216.65 on the BSE.

vedanta declared as preferred bidder for two copper mines in maharashtra
vedanta declared as preferred bidder for two copper mines in maharashtra

The scrip opened at Rs. 220.00 and has touched a high and low of Rs. 221.90 and Rs. 217.20 respectively. So far 339994 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 440.75 on 11-Apr-2022 and a 52 week low of Rs. 206.10 on 01-Jul-2022.

Last one week high and low of the scrip stood at Rs. 235.35 and Rs. 206.10 respectively. The current market cap of the company is Rs. 82224.44 crore.

The promoters holding in the company stood at 69.69%, while Institutions and Non-Institutions held 20.95% and 9.36% respectively.

Vedanta has reported a 3 per cent increase in its aluminium production to 5,65,000 tonnes in the April-June quarter of the ongoing fiscal (Q1FY23).

The company had produced 5,49,000 tonnes of aluminium in the corresponding quarter of the previous fiscal.

Mined metal production at Zinc India increased by 14 per cent to 2,52,000 tonnes due to higher ore production across all the mines and supported by better mill recovery.

The production of saleable iron ore in Karnataka in the first quarter declined by 14 per cent to 1.26 million tonnes over 1.46 MT on account of heavy rainfall which impacted ore handling.

The company’s total production of saleable steel declined by 7 per cent to 2,69,000 tonnes over 2,89,000 tonnes in the year-ago period.

It achieved 14 per cent rise in ore production to 1,40,000 tonnes in the Q1 FY23, over the corresponding quarter of previous fiscal.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

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