The technical analysts have a buy call on Vedanta with a target price of Rs 425.
The current market price of Vedanta is Rs 305. Its resolution plan entails Rs 53.2bn payment to creditors against outstanding claims of nearly Rs 132bn by infusing Rs 18.1bn equity and Rs 35.1bn debt in ELSS.
Vedanta Resources is a global diversified metals and mining company with its headquarters in London, United Kingdom
Vedanta Ltd is India’s largest producer and exporter of iron ore in the private sector. The company is a diversified global metals and mining company. It is engaged in the business of exploration, mining and processing of iron ore. It has mining operations in Goa and Karnataka in India. The iron ore from its Goa mines is shipped through the Mormugoa port, the ore from Karnataka mines is exported through the ports of Goa, Mangalore and Krishnapatnam.