Vedanta shares may rise 17% following Investec's positive stance on the stock after the company's analyst day. The brokerage firm maintained its 'Buy' rating with a price target of ₹319, implying significant upside potential from current levels. As per CNBC TV18, shares were trading 0.73% higher at ₹275.45 on Monday, June 29, after the positive analyst commentary. Despite Monday's gains, the stock remains down 22% over the past month, reflecting broader market challenges despite the positive analyst sentiment.
During the analyst meet, management outlined comprehensive strategies for key business segments. On the Gamsberg mine, one of Vedanta's key zinc assets, management acknowledged the project's history of underperformance and detailed measures being undertaken to improve execution. The company also addressed ongoing challenges, stating that manganese content in the ore continues to remain a challenge, with blending currently the only viable solution as the company has yet to identify a suitable technological fix. Additionally, Vedanta's Saudi copper assets, including the mining project, appear promising, with management targeting an internal rate of return (IRR) of 16% on the proposed smelter investment.
From a technical perspective, Vedanta's Relative Strength Index (RSI) stood at around 27.2, indicating the stock has entered the oversold zone. As reported by CNBC TV18, typically, an RSI reading below 30 suggests that a stock may have been oversold, potentially setting up for a technical bounce. However, Investec noted it would wait for greater clarity on mine development plans, ore quality improvements and potential government incentives before factoring any additional upside into its estimates.
Vedanta Limited announced the incorporation of Vedanta Property Platforms Limited (VPPL) on Wednesday, establishing a wholly owned subsidiary in the real estate sector. According to the company's regulatory filing, the subsidiary was incorporated in Mumbai, Maharashtra on June 22, 2026, with the Certificate of Incorporation uploaded on the Ministry of Corporate Affairs portal on June 23, 2026, at around 6:40 pm IST. The entity has been incorporated under the Companies Act, 2013, with its registered office located in Mumbai, Maharashtra. As per the NSE filing, this strategic move aims to monetise surplus land and non-core property assets and create a dedicated structure for potential joint ventures and asset-light initiatives to fund expansion in its core metals and energy businesses.
Vedanta reported robust financial results for the third quarter, with net profit surging 88.5% to ₹9,532 crore compared to ₹4,961 crore in the same period last year. Revenue increased by 47.5% year-on-year to ₹24,609 crore, demonstrating strong operational performance across the company's diversified portfolio. EBITDA for the quarter stood at ₹7,559 crore, representing a 44% growth from the corresponding quarter last year, though margins saw a marginal contraction of 70 basis points to 30.7% from 31.4% a year earlier. These results reflect the company's successful execution of its diversified business strategy and operational efficiency improvements.
