Q1 Results Lead to Steady Rise of Vedanta Stock, Posts 81% Year-to-date Rise

Vedanta

Vedanta is one of the world’s leading natural resources companies with operations spanning India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan, and Japan. The company has significant activities in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, and power.

On July 4, shares of Vedanta gained over 1% in early trading, following the release of the company’s business update for the June quarter. The Anil Agarwal-led conglomerate reported increased production of aluminium, zinc, iron ore, and steel in Q1FY25.

Despite the overall positive performance, Vedanta noted a rise in overseas mined metal production, while oil and gas output declined during the quarter. According to a regulatory filing, aluminium production grew by 3% to 596,000 tonnes in the first quarter compared to the same period last year. At Zinc India, saleable metal output increased slightly to 262,000 tonnes from 260,000 tonnes.

However, Zinc International saw a drop in mined metal output to 38,000 tonnes, down from 68,000 tonnes in the first quarter of FY25. Oil and gas production decreased by 17% to an average of 112,400 barrels of oil equivalent per day (boepd) from 134,900 boepd a year earlier.

Saleable iron ore production rose to 1.3 million tonnes from 1.2 million tonnes in the previous year. Total saleable steel production increased by 10% to 356,000 tonnes, and power sales grew by 13% to 4,791 million units from 4,256 million units in the April-June period of the previous fiscal year.

As of 9:50 am, Vedanta shares were trading 0.4% higher at Rs 465.80 each on the National Stock Exchange (NSE). Year-to-date, the stock has surged over 80%, significantly outperforming the benchmark Nifty’s return of approximately 12% during the same period.

Last month, it was reported that the Vedanta Group, which includes Vedanta Ltd and Hindustan Zinc Ltd, generated the maximum wealth for investors in the current fiscal year.

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