Vedanta shares drop 1.63% as Sensex falls
Vedanta Ltd. traded 1.63 per cent lower in Friday's session at 02:06PM (IST).
The stock opened at Rs 243.8 and has touched an intraday high and low of Rs 243.85 and Rs 238.6, respectively, during the session so far. The stock quoted a 52-week high of Rs 340.75 and a 52-week low of 237.1.
About 349,314 shares changed hands on the counter so far. Benchmark Nifty50 was down 78.35 points at 19464.75, while the BSE Sensex traded 237.31 points lower at 65450.87 at the time of writing of this report.
In the Nifty pack, 14 stocks traded the day in the green, while 36 were in the red.Key Financials For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 34279.0 crore, down 11.27 per cent from the previous quarter's Rs 38635.0 crore and down 12.9 per cent from the year-ago quarter. The company reported net profit of Rs 2640.0 crore for the latest quarter.Promoter Holdings Promoters held 68.11 per cent stake in the company as of 30-Jun-2023, while FIIs held 7.48 per cent and MFs 0.25 per cent.Technicals On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 291.89 on August 11, while the 50-DMA was at Rs 274.07.
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.
. Read more on economictimes.indiatimes.com
