Shares of Vedanta Ltd have risen 74% from their 52 week low in nearly a year. Vedanta stock slipped to a 52 week low of Rs 249.75 on March 13, 2024. The metal stock was trading nearly 5% lower in the current session, thereby falling 74% from its yearly low. Vedanta shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
The stock of Anil Agarwal-led metal and mining company was trading lower in early deals. The stock slipped 4.78% to Rs 433.75 on Monday against the previous close of Rs 455.55 on BSE.
Market cap of the firm slipped to Rs 1.70 lakh crore. A total of 2.47 lakh shares of the firm changed hands amounting to a turnover of Rs 10.85 crore on BSE.
The stock has risen 210% in five years and risen 58.76% in a year. Vedanta shares have a one-year beta of 1.3, indicating very high volatility during the period. In terms of technicals, the relative strength index (RSI) of Vedanta stands at 55.6, signaling the stock is trading neither in the overbought nor in the oversold territory.
Jigar S Patel from Anand Rathi said, "Support will be at Rs 420 and resistance at Rs 458. A decisive move above the Rs 458 level may trigger a further upside of Rs 475. The expected trading range will be between Rs 410 to Rs 475 for the short-term."
Kushal Gandhi, Technical Analyst, StoxBox said, "The share price of Suzlon has retraced 44% of its gains from a peak of 85.85, following a remarkable 142% increase from the lows in March 2024. This profit-taking has resulted in the stock price falling below key moving averages, such as the 50-week moving average, as well as below the 50 and 200 DMA, which are currently experiencing a negative crossover. This suggests a persisting weak trend. The Relative Strength Index (RSI) for both daily and weekly timeframes is trading below median levels, while the monthly RSI shows a negative slope, indicating a decline in price momentum—a concerning development. Consequently, SUZLON has demonstrated weak price strength compared to its performance over the past 12 months, as well as in comparison to the benchmark index Nifty50, accompanied by significantly low buyer demand, which is another negative signal. With the 200 and 50 DMA moving averages situated close to the 62.20-60.30 levels, they present overhead resistance. The price action is expected to gain bullish strength if it can decisively reclaim this zone on a closing basis. Until that occurs, we recommend refraining from making new purchases in the stock."
A R Ramachandran, SEBI registered Independent analyst says, "Vedanta stock price is bearish on the Daily charts with strong resistance at Rs 454. A Daily close below support of Rs 437 could lead to a target of Rs 410 in the near term."
The metals and mining firm reported a 70% YoY rise in net profit for the quarter ended December 2024. Profit climbed 70% to Rs 4,876 crore in the December 2024 quarter against Rs 2,868 crore on a (YoY) basis. Revenue climbed 10% to Rs 38,526 crore in Q3FY25 against Rs 34,968 crore revenue in Q3FY24. Consolidated EBITDA was the highest ever in the third quarter at Rs 11,284 crore, up 30% YoY and 9% QoQ.