Vedanta shares in news today on upgrade of corporate family rating 

Shares of metal and mining major Vedanta are in news today after Moody's Ratings upgraded the corporate family rating of Vedanta Resources Ltd (VRL) following its successful liability management exercises. In the previous session, Vedanta stock ended 0.64% lower at Rs 445.70 on BSE. In a year, the stock has gained 91.49%.  Market cap of the firm slipped to Rs 1.74 lakh crore. A total of 6.93 lakh shares of the firm changed hands amounting to a turnover of Rs 30.93 crore on BSE. 

Vedanta shares have a one-year beta of 1.3, indicating high volatility during the period. In terms of technicals, the relative strength index (RSI) of Vedanta stands at 43, signaling the stock is trading neither in the overbought nor in the oversold territory.

The stock has gained 73.29% in 2024. In five years, the stock has risen 203%. The large cap stock is trading higher than the 5 day, 10 day, 200 day but lower than the 30 day, 50 day, 100 day, and 150 day moving averages. 

Moody's has upgraded the corporate family rating of the company from B3 to B2. Moody's also upgraded the rating on the senior unsecured bonds issued by Vedanta Resources to B3 from Caa1.