Shares of Vedanta Ltd are in news today after the Anil Agarwal-led metal and mining company announced its Q3 business updates. The metal and mining stock ended 1.80% higher at Rs 457.90 on Friday against the previous close of Rs 449.80 on BSE. Market cap of the firm rose to Rs 1.79 lakh crore. A total of 6.66 lakh shares of the firm changed hands amounting to a turnover of Rs 30.55 crore on BSE. The metal and mining stock hit a record high of Rs 527 on December 16, 2024 and fell to a 52-week low of Rs 249.75 on March 13, 2024.
In its Q3 updates, Vedanta said it reported a 3% year-on-year rise to 614 kilotonnes in aluminium production in Q3. Mined metal output climbed 3 percent sequentially to 265 kilotonnes. Refined zinc production rose 3 percent sequentially to 204 kilotonne.
The company's oil and gas output dropped 19 percent year-on-year to 9.1 million barrels of oil equivalent per day. Pig iron production climbed 7 percent to 217 kilotonnes.Total pig iron output climbed 14 percent sequentially, recovering from a planned blast furnace shutdown and heavy monsoon disruptions in the prior quarter.
Vedanta clocked record-high nine-month mined metal production, led by improved grades and enhanced mill recovery. Refined metal output also reached a new peak, with refined zinc production rising 3 percent and refined lead production increasing 4 percent, aided by robust plant performance and availability.
Saleable ore output rose percent to 1.5 million tonnes, while saleable steel production cilmbed 11 percent sequentially to 329 kilotonnes, rebounding after maintenance shutdowns in the previous quarter. Copper production also clocked a 9 percent sequential rise, reaching 45 kilotonnes.