Buy Vedanta, target price Rs 600: ICICI Securities

ICICI Securities has buy call on Vedanta with a target price of Rs 600. The current market price of Vedanta Ltd. is Rs 499.45. Vedanta, incorporated in the year 1965, is a Large Cap company (having a market cap of Rs 197396.39 Crore) operating in Diversified sector.

Vedanta key Products/Revenue Segments include Aluminium, Copper Cathodes, Oils, Iron Ore, Pig iron, Others, Other Operating Revenue, Power, Metallurgical Coke, Export Incentives, Scrap for the year ending 31-Mar-2024.

Financials

For the quarter ended 30-06-2024, the company has reported a Consolidated Total Income of Rs 36,698.00 Crore, up 1.68 % from last quarter Total Income of Rs 36,093.00 Crore and up 7.06 % from last year same quarter Total Income of Rs 34,279.00 Crore. Company has reported net profit after tax of Rs 5,095.00 Crore in latest quarter.


Promoter/FII Holdings

Promoters held 59.32% stake in the company as of 30-Jun-2024, while FIIs owned 10.22%, DIIs 14.78%.