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Vedanta Share Price Target 2024: BlackRock, ADIA, domestic funds hike stake - Buy?

Vedanta Limited Share Price Target 2024: Asset manager, BlackRock, as well as the Abu Dhabi Investment Authority, along with domestic mutual funds like ICICI Mutual Fund and Nippon India Mutual Fund, have increased their holdings in Vedanta. According to the PTI report, the recent rally in Vedanta share price on the back of demerger plans, deleveraging, and soaring metal prices has led to a bullish call by domestic and international funds.

Authored by: ET Now Digital

Updated Apr 7, 2024 | 03:34 PM IST

Shares of Vedanta Limited were quoted at a 52-week high of Rs 322.10 on Friday, April 5, 2024, while they were seen at a 52-week low of Rs 207.85 on the BSE on September 28, 2023.

(Image: istock/ET Now News)

Vedanta Limited Share Price Target 2024: The world's largest asset manager, BlackRock, as well as the Abu Dhabi Investment Authority, along with domestic mutual funds like ICICI Mutual Fund and Nippon India Mutual Fund, have increased their holdings in Vedanta by almost 2 per cent during the last four months, according to market participants at PTI.

At the same time, foreign institutional investors (FIIs) increased their stake in the conglomerate by 1.2 per cent during the corresponding period, according to the PTI.

According to the PTI report, the recent rally in Vedanta share price on the back of demerger plans, deleveraging, and soaring metal prices has led to a bullish call by domestic and international funds.

JUST IN | BlackRock, ADIA, domestic funds hike stake in Vedanta: PTI@Vedanta_Group pic.twitter.com/zHGPZtckhL
— ET NOW (@ETNOWlive) April 7, 2024

Vedanta Limited Share Price Target 2024

Brokerage firm Kotak Institutional Equities, in a report dated April 5, 2024, has assigned a sell rating to the Vedanta stock. At the CMP of Rs 310, the brokerage sees the fair value at Rs 255 for the Vedanta stock.

Vedanta Share Price History

Vedanta commands a market cap of Rs 1,18,541.40 crore on the BSE. The company is a constituent of the S&P BSE 100 index on the BSE. According to the BSE analytics, the company's stock price has jumped 17.39 per cent in the last one week, 17.72 per cent in the last two weeks, and 11.66 per cent in the last one month.

Vedanta's stock has offered a return of 20 per cent in the last three months, 43.68 per cent and 11.37 per cent in the last one year to its investors.

Shares of Vedanta Limited were quoted at a 52-week high of Rs 322.10 on Friday, April 5, 2024, while they were seen at a 52-week low of Rs 207.85 on the BSE on September 28, 2023.

Vedanta's stock has sprinted 37.63 per cent in the last three years, 66.44 per cent in the last five years and 67.89 per cent in the last ten years to investors, as per the data available on the BSE.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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