Vedanta Share Price: Vedanta shares rise, know why Anil Agarwal’s company’s share jumped – vedanta shares gain 1.2 percent after parent firm reduces debt by one billion dollar
[ad_1]
Talking about the technical term, the Relative Strength Index (RSI) of Vedanta stock is 46.3. This indicates that the stock is neither overbought nor oversold. Its one-year beta is 1.6, which indicates a lot of volatility in this period. Vedanta stock trades lower than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has declined 34 per cent in one year and is down 10.69 per cent this year. Last year on April 22, it reached Rs 424.85, which was its 52-week high. It reached Rs 206.10 on July 1, 2022, which was its 52-week low.
how much is the loan now
Vedanta’s gross debt as on April 24, 2023 was $6.8 billion as against $7.8 billion at the end of March. At the end of March last year, the company had a total debt of $ 9.7 billion. The company said in a statement on Monday that it has cut its debt by $3 billion since February 2022. The company had set a target of reducing its debt by $4 billion in three years and has achieved 75 per cent of this target. Vedanta has a PE ratio of 7.05 which indicates that the stock is undervalued as compared to the industry. The PE of Mining Industry is 14.39.
[ad_2]
Source link
