Vedanta share price may fall by Rs 295 by 30th September, know from which level confirmation will be received
Vedanta Ltd’s share price has been a topic of interest among investors as of September 13, 2024. The company’s stock is currently trading at ₹441.70 on the NSE, with a market capitalization of ₹181,618 crore. This article will provide a comprehensive overview of Vedanta’s recent performance, potential future levels, and the factors influencing its stock price.
Main Points
As of today, Vedanta’s share price is ₹441.70, reflecting a slight decrease from the previous close of ₹459.35. The stock has seen a day range between ₹455.00 and ₹462.95, indicating some volatility in trading. Over the past year, Vedanta’s stock has fluctuated significantly, with a 52-week high of ₹506.75 and a low of ₹208.00. This wide range suggests that the stock has been subject to various market pressures and investor sentiment shifts.
Key Financial Metrics
- Market Capitalization: ₹181,618 crore
- P/E Ratio: 33.00
- P/B Ratio: 4.63
- Dividend Yield: 6.04%
These metrics indicate that Vedanta is positioned as a large-cap company with a reasonable dividend yield, making it attractive for income-focused investors.
Dividend Announcements
Vedanta’s board recently approved a third interim dividend of ₹4.00 per share, which is expected to enhance investor confidence. Historically, dividend announcements have led to positive price movements in Vedanta’s stock. Investors are keenly watching how this announcement will affect trading in the coming days.
Institutional Interest
In August 2024, mutual funds were net buyers of Vedanta shares, purchasing approximately ₹770 crore worth of stock. This institutional interest is a positive indicator, suggesting that large investors see potential in Vedanta’s future performance. The ongoing support from mutual funds may provide a buffer against market volatility.
Market Sentiment and Analyst Ratings
Analysts have mixed views on Vedanta’s stock. Some financial services firms have set a target price of ₹510, indicating a potential upside from current levels. However, the overall market sentiment remains cautious, influenced by broader economic conditions and commodity price fluctuations.
Technical Analysis and Future Levels
Support and Resistance Levels
For traders, understanding support and resistance levels is crucial. Currently, key resistance is observed around ₹462, while support is seen at ₹440. If the stock breaks through the resistance level, it could signal a bullish trend, potentially pushing the price towards ₹510 in the near term. Conversely, if it falls below the support level, it may test lower levels, possibly around ₹430.
Short-Term Forecast
Given the recent price action and institutional buying, analysts suggest that Vedanta could stabilize around the ₹450 mark in the short term. However, external factors such as global commodity prices and domestic economic conditions will play a significant role in determining the stock’s trajectory.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
