Vedanta shares gain 0.45% as Sensex rises

Shares of Vedanta Ltd. traded 0.45 per cent higher in Tuesday’s session at 12:42PM (IST). The stock opened at Rs 439.45 and has touched an intraday high and low of Rs 443.3 and Rs 436.9, respectively, during the session so far.

The stock quoted a 52-week high of Rs 506.85 and a 52-week low of 207.85. About 378,911 shares changed hands on the counter so far.

Benchmark Nifty50 was up 132.35 points at 25068.75, while the BSE Sensex traded 428.13 points higher at 81987.67 at the time of writing of this report.

In the Nifty pack, 36 stocks traded the day in the green, while 14 were in the red.

Key Financials
For the quarter ended 30-Jun-2024, the company reported consolidated sales of Rs 36698.0 crore, up 1.68 per cent from the previous quarter’s Rs 36093.0 crore and up 7.06 per cent from the year-ago quarter. The company reported net profit of Rs 3606.0 crore for the latest quarter. Promoter Holdings
Promoters held 59.32 per cent stake in the company as of 30-Jun-2024, while FIIs held 10.22 per cent and MFs 5.34 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 355.82 on September 10, while the 50-DMA was at Rs 449.01. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.