Stocks of Vedanta have witnessed a sudden
rise in trading on both BSE & N
SE.
The stocks opened their trade on the last day of the week at Rs 233.80 per share; touched a low of Rs 230.35 per share; & a high of Rs 246.70 per share on NSE.
The stock has witnessed long built up position in today’s trade, as both open interest and share price are surging, indicating an expectation from the derivative segment for the stock to go up further.
It is one of the most actively traded securities with trading quantity clocking at 97,32,880 shares; and traded value standing at Rs 6000.42 lakh on NSE.
The stock has outperformed BSE Sensex and BSE Metal index on a yearly basis.
BSE Sensex is trading in negative territory, down by over 131 points or 0.42% at 29,904 levels, and following the trend, Nifty is weaker by 44 points or 0.48% at 9297 levels.
Although, Indian bourses are trading weak, the stock has outperformed major indices in today’s trade.
Stock view:
Vedanta Ltd is currently trading at Rs 243.45, up by Rs 9.55 or 4.08% from its previous closing of Rs 233.9 on the BSE.
The scrip opened at Rs 233.5 and has touched a high and low of Rs 246.4 and Rs 230.15 respectively. So far 12440421(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 69344.2 crore.
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 278 on 03-Apr-2017 and a 52 week low of Rs 94.05 on 24-May-2016. Last one week high and low of the scrip stood at Rs 238.75 and Rs 227.55 respectively.
The promoters holding in the company stood at 62.86 % while Institutions and Non-Institutions held 23.34 % and 13.67 % respectively.
The stock is currently trading below its 50 DMA.
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