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Vedanta Iron and Steel to Vedanta Oil and Gas shares: Anil Agarwal-owned stocks rise up to 6%; target, stoploss
Vedanta is in focus.
· LiveMint Markets
Vedanta Group shares are skyrocketing today as rising metal prices and ease in the Middle East tension has created buzz for the high beta stocks, say…
The analysis
Vedanta reported movement of 6%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -2.8% on the day at ₹254.15, and has returned -5.8% over three months. It sits 68% below its 52-week high, which means a good deal of bad news was already in the price.
Market context
- The company directly in focus is VEDL.