Vedanta share price jumped to fresh 52-week highs at Rs 394.75 a day after Anil Agarwal said that his group’s flagship company – Vedanta Resources – will be achieving an annual operating profit of $7.5 billion within the next two years.
The 50% jump in EBITDA is on the back of the group’s demerger plan, which includes reorganising Vedanta into six separate entities based on their sectors.
He further said that in the next three years, the group will also be deleveraging its cash-starved Vedants Resources by $3 billion.
Shares of Vedanta have increased investors’ wealth by 40% in the last year and over 131% in the past five years.
The index has given returns of over 26% in the past year and almost 90% in the last five years.
Vedanta share price jumped to fresh 52-week highs at Rs 394.75 a day after Anil Agarwal said that his group’s flagship company – Vedanta Resources – will be achieving an annual operating profit of $7.5 billion within the next two years.
The 50% jump in EBITDA is on the back of the group’s demerger plan, which includes reorganising Vedanta into six separate entities based on their sectors.
He further said that in the next three years, the group will also be deleveraging its cash-starved Vedants Resources by $3 billion. The group has a debt standing at $6.4 billion, more than 70% will be due in FY25.
Also Read Share Market Highlights: Sensex and Nifty ends lower, Nifty settles below 22,000, Sensex near 72,500: FMCG and Financial Services stocks top laggards Vodafone Idea’s Rs 18,000 crore FPO kicks off today: Here is all you need to know Just Dial shares surge over 10% on strong Q4 profit Stocks To Watch: Ambuja Cements, Paytm, Vodafone Idea, Infosys, Vedanta
The company proposed the demerger plan in 2023. It will be demerging five of its key businesses, including aluminium, oil & gas, and steel into separate listed entities.
In the last five days, the stock of Vedanta has risen more than 10% and given a return of 70% in the last six months. Shares of Vedanta have increased investors’ wealth by 40% in the last year and over 131% in the past five years.
Compared with the benchmark index, the Nifty 50 has fallen 1.8% in the last five days but has risen more than 13% in the past six months. The index has given returns of over 26% in the past year and almost 90% in the last five years.
