Vedanta shares saw a modest increase of over 1% in early trading on July 4, following the company’s business update for the June quarter. Led by Anil Agarwal, the conglomerate reported higher production levels of aluminium, zinc, iron ore, and steel during Q1FY25.
Specifically, Vedanta noted a 3% growth in aluminium output to 596,000 tonnes and stable zinc production at 262,000 tonnes in India. However, Zinc International experienced a decline in mined metal output from 68,000 tonnes to 38,000 tonnes year-over-year.
In contrast, the company’s oil and gas production decreased by 17%, averaging 112,400 barrels of oil equivalent per day (boepd) compared to 134,900 boepd a year earlier.
On the positive side, iron ore production rose to 1.3 million tonnes from 1.2 million tonnes, while saleable steel production increased by 10% to 356,000 tonnes. Additionally, power sales saw a 13% rise to 4,791 million units from 4,256 million units in the same quarter last fiscal year.
As of 9:50 am, Vedanta shares were trading 0.4% higher at Rs 465.80 on the National Stock Exchange (NSE). Year-to-date, the stock has surged over 80%, significantly outperforming the Nifty’s returns of approximately 12% during the same period.
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