Vedanta has cancelled the board meeting which was scheduled to be held on 9 October 2024.Powered by Capital Market - Live

The demand is in relation to pre import condition which was applicable for a limited period, on imports against advance authorization The company believes that there is a strong case of merit and law, more specifically due to the recent judicial pronouncements. The next course of action shall be decided in due course. The company does not reasonably expect the said order to have any material financial impact, operations or other activities of the company, stated in exchange filing. Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia. The diversified metal company reported 54.02% increase in net profit to Rs 5,095 crore in Q1 FY25 as against Rs 3,308 crore in Q1 FY24. Revenue from operations grew by 5.68% YoY to Rs 35,239 crore in Q1 FY25. The scrip shed 0.29% to Rs 495.85 on the BSE.Powered by Capital Market - Live

Vedanta has revised the meeting of the Board of Directors which was scheduled to be held on 8 October 2024. The meeting will now be held on 9 October 2024.Powered by Capital Market - Live

The headline equity indices continued to extend losses in mid-afternoon. The Nifty traded below the 25,050 mark after hitting the day's high of 25,485.05 in early-afternoon trade. Media shares extended losses for the second trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex tumbled 661.91 points or 0.80% to 81,840.85. The Nifty 50 index dropped 218.45 points or 0.87% to 25,037.70. In the broader market, the S&P BSE Mid-Cap index declined 1.06% and the S&P BSE Small-Cap index fell 0.76%. The market breadth was negative. On the BSE, 1,641 shares rose and 2,255 shares fell. A total of 118 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 7.44% to 14.15. Economy : The HSBC India Services PMI survey, compiled by S&P Global, indicates strong sector performance, but total new business, international sales, and output have all increased at the slowest rates since late 2023. Despite solid job creation and strengthening business confidence, the Services Business Activity Index fell from 60.9 in August to 57.7 in September, still indicating growth above the neutral mark of 50.0. The slowdown in output growth, the lowest since November 2023, was influenced by intense competition, cost pressures, and shifts in consumer preferences toward online services. While new business intakes expanded sharply, their growth rate dropped to a ten-month low, and international sales growth weakened significantly, reflecting broader trends in private sector output. Buzzing Index: The Nifty Media index fell 1.54% to 2,093.75. The index slipped 3.63% in two trading sessions. Saregama India (down 4.1%), Network 18 Media & Investments (down 2.66%), Dish TV India (down 2.03%), Nazara Technologies (down 1.78%), TV18 Broadcast (down 1.66%), Tips Music (down 1.61%), PVR Inox (down 1.3%), Zee Entertainment Enterprises (down 0.94%), Hathway Cable & Datacom (down 0.49%) and Sun TV Network (down 0.16%) edged lower. Numbers to Track: The yield on India's 10-year benchmark federal paper advanced 2.32% to 6.934 as compared with previous close 6.888. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.9675, compared with its close of 83.9600 during the previous trading session. MCX Gold futures for 5 December 2024 settlement rose 0.17% to Rs 76,370. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 101.92. The United States 10-year bond yield fell 0.29% to 3.846. In the commodities market, Brent crude for November 2024 settlement added 74 cents or 0.95% to $78.36 a barrel. Stocks in spotlight: Vedanta fell 0.89%. The diversified minerals company informed that its total aluminum production rose 3% to 6,09,000 tonnes in Q2 FY25 as compared with 5,94,000 tonnes posted in Q2 FY24. Oriental Rail Infrastructure added 1.44% after the company announced that it has secured an order worth Rs 3.67 crore from Western Railways (WR), Mahalaxmi, Indian Railways. The cost of the project is Rs 3.67 crore and it is to be executed by 30 October 2025. Uflex shed 0.66%. The company's wholly owned subsidiary, Flex Asepto (Egypt) S.A.E. decided to set up an aseptic packaging facility at Egypt. Powered by Capital Market - Live

Vedanta will hold a meeting of the Board of Directors of the Company on 8 October 2024.Powered by Capital Market - Live

Vedanta Ltd is up for a third straight session today. The stock is quoting at Rs 471, up 3.73% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.06% on the day, quoting at 25372.35. The Sensex is at 82952.82, up 0.07%. Vedanta Ltd has gained around 6.38% in last one month. Meanwhile, Nifty Metal index of which Vedanta Ltd is a constituent, has gained around 3.62% in last one month and is currently quoting at 9370.65, up 1.31% on the day. The volume in the stock stood at 143.63 lakh shares today, compared to the daily average of 128.79 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 469, up 3.08% on the day. Vedanta Ltd is up 99.15% in last one year as compared to a 26.02% jump in NIFTY and a 36.45% jump in the Nifty Metal index.The PE of the stock is 15.28 based on TTM earnings ending June 24.Powered by Capital Market - Live

Vedanta announced that John Slaven, CEO - Aluminium Business designated as a Senior Management Personnel of the Company, has tendered his resignation from the said position effective from close of business hours on 30 September 2024.Powered by Capital Market - Live

HDFC Life Insurance Company Ltd, New India Assurance Company Ltd, ICICI Lombard General Insurance Company Ltd and Oil India Ltd are among the other losers in the BSE's 'A' group today, 10 September 2024.Vedanta Ltd lost 4.41% to Rs 440 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 4.87 lakh shares were traded on the counter so far as against the average daily volumes of 5.35 lakh shares in the past one month.HDFC Life Insurance Company Ltd tumbled 4.26% to Rs 704.15. The stock was the second biggest loser in 'A' group.On the BSE, 1.18 lakh shares were traded on the counter so far as against the average daily volumes of 79726 shares in the past one month.New India Assurance Company Ltd crashed 3.73% to Rs 247.45. The stock was the third biggest loser in 'A' group.On the BSE, 1.36 lakh shares were traded on the counter so far as against the average daily volumes of 1.57 lakh shares in the past one month.ICICI Lombard General Insurance Company Ltd dropped 3.32% to Rs 2157.25. The stock was the fourth biggest loser in 'A' group.On the BSE, 9225 shares were traded on the counter so far as against the average daily volumes of 17960 shares in the past one month.Oil India Ltd fell 3.28% to Rs 613.9. The stock was the fifth biggest loser in 'A' group.On the BSE, 2.44 lakh shares were traded on the counter so far as against the average daily volumes of 5.06 lakh shares in the past one month.Powered by Capital Market - Live

Vedanta announced that the rating on long-term instruments has been upgraded from '[ICRA] AA-'to '[ICRA] AA' and rating on short-term instruments has been reaffirmed at '[ICRA] A1+'. The ratings remain on 'Watch with Developing Implications'. Powered by Capital Market - Live

The record date for the purpose of payment of dividend is Tuesday, 10 September 2024. At yesterday's closing price of Rs 468.25, the said dividend translates to a dividend yield of 4.27%. Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia. The diversified metal company reported 54.02% increase in net profit to Rs 5,095 crore in Q1 FY25 as against Rs 3,308 crore in Q1 FY24. Revenue from operations grew by 5.68% YoY to Rs 35,239 crore in Q1 FY25. The scrip declined 1.06% to end at 463.30 on Monday, 2 September 2024.Powered by Capital Market - Live