Stock market today: Vedanta shares have opened with marginal gains during the early morning session on Thursday. Ahead of the announcement of Vedanta Q3 results today, the market is expecting improvement in EBITDA on rising commodity prices.
However, stock market investors and observers would be keen to see what kind of guidance Vendanta declares as rising commodity prices may enable the metal major to report better revenue in the October to December 2023 quarter. According to stock market experts, Vendata's Q3 results in 2024 may come as a relief for the company as a rise in zinc and aluminum prices and cost reduction measures taken by the company are expected to fuel Vedanta's Q3 EBITDA in current financial year.
They advised Vedanta shareholders and stock market investors to remain vigilant about the guidance as better Q3 numbers may not display the clear fundamentals of the company. They advised Vedanta shareholders to hold Vedanta shares maintaining stop loss at ₹250 per share.
Asked about the kind of Q3FY24 results Vedanta may report today, Shreyansh Shah, Research Analyst at StoxBox said, "The growing construction market, coupled with the continuing demand for iron and steel in FY24, poses an opportunistic market for the company in the upcoming period. Rising commodity prices, particularly in the zinc and aluminum segment, and cost reduction measures are expected to improve the EBITDA margins for the quarter.
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