Vedanta shares down 0.7% as Sensex falls

Shares of Vedanta Ltd. fell 0.7 per cent to Rs 226.1 in Thursday's session as of 02:05PM (IST) even as the equity benchmark Sensex traded 49.9 points lower at 66423.15.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 340.75 and a 52-week low of Rs 207.85 on NSE. Around 448598 shares changed hands on the counter till 02:05PM (IST).

The stock opened at Rs 225.55 and has touched an intraday high and low of Rs 227.65 and Rs 225.1 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 9.56, earnings per share (EPS) of Rs 23.65 and price to book value (PB) of 2.59, while the return on equity (ROE) stood at Rs 26.82.

Promoter/ FII Holding
The promoters held 68.11 per cent stake in the company as of October 12, while FII and MF ownerships stood at 7.48 per cent and 0.25 per cent, respectively.

Key Financials
With a market capitalisation of Rs 84101.79 crore, the company operates in the Diversified industry. For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 34279.0 crore, down 11.27 per cent from the previous quarter?s Rs 38635.0 crore and down 12.9 per cent from the same quarter a year ago. The company reported net profit of Rs 2640.0 crore for the latest quarter, down 40.29 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 47.69. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.