Vedanta rises as its arm to set up copper smelter plant in India
Vedanta is currently trading at Rs. 230.50, up by 1.85 points or 0.81% from its previous closing of Rs. 228.65 on the BSE.
The scrip opened at Rs. 229.90 and has touched a high and low of Rs. 231.05 and Rs. 228.75 respectively. So far 2685247 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 231.05 on 01-Apr-2021 and a 52 week low of Rs. 62.40 on 01-Apr-2020.
Last one week high and low of the scrip stood at Rs. 231.05 and Rs. 221.75 respectively. The current market cap of the company is Rs. 85551.23 crore.
The promoters holding in the company stood at 55.11%, while Institutions and Non-Institutions held 29.26% and 11.41% respectively.
Vedanta’s subsidiary -- Vedanta Resources has called for Expression of Interest (EoI) from state governments for the 500 KTPA (Kilo Tonnes Per Annum) coastal copper smelter plant. The copper smelter of 500 KTPA will require footprint of around 1,000 acres in proximity to port along with logistics connectivity with conveyor/corridor of rail and road to handle 5 mtpa material movement on both in-bound and out-bound side.
As per the EoI document issued, the project has an investment potential of about Rs 10,000 crore that will provide direct and indirect employment to 10,000 people and will contribute around Rs 3,000 crore to the exchequer annually.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
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Commodity Quote on Base Metals (Copper) by Mr. Saish Sandeep Sawant Dessai, Angel One Ltd