New Delhi, Vedanta Group, comprising Vedanta Ltd and Hindustan Zinc Ltd, has generated the most wealth for investors on Dalal Street in the current fiscal year so far, with the combined market valuation of both companies increasing by Rs 2.2 one lakh crore.
The market capitalization of Vedanta Group increased by over Rs 2.2 lakh crore between March 28 and June 20, 2024, according to stock exchange data.
This is higher than the market capitalization growth seen by leading Indian companies such as Reliance Industries, Mahindra Group and Tata Group during the same period.
Vedanta and Hindustan Zinc share prices have doubled from their 52-week lows, supported by multiple positives including proposed demerger, management's continued focus on deleveraging and significant improvement in earnings, data shows of the stock market.
In comparison, the Adani and Mahindra groups saw their market capitalization rise by Rs 1.4 lakh crore each.
While Tata Group's market capitalization increased by over Rs 60,600 crore, heavyweight RIL's market valuation decreased by over Rs 20,656.14 crore during this period.
Vedanta posted its second-highest ever revenue of Rs 1,41,793 crore and EBITDA of Rs 36,455 crore in FY24, with an EBITDA margin of 30 per cent despite a subdued commodity cycle.
Vedanta Group has charted a strategic roadmap to achieve EBITDA of $10 billion in the near term, supported by timely execution of over 50 high-impact growth projects, including those in the zinc, aluminum, oil and gas and energy.
Growing investor conviction in Vedanta Group was evident in the growing shareholding of institutional buyers as foreign institutional investors' shareholding in Vedanta rose to 8.77 per cent at the end of the March quarter from 7.74 per cent. percent of the previous quarter.
Adding to the positive is strengthening raw material prices, which, along with the accrual of benefits from most cost optimization initiatives coming from FY25 onwards, is expected to support Vedanta's profitability, the analysts said.
Shares of Vedanta and Hindustan Zinc hit their all-time highs of Rs 506.85 and Rs 807 on May 22.
Shares of Vedanta rose 4.86 per cent to Rs 470.25 on Thursday, while Hindustan Zinc rose 2.29 per cent to Rs 647.65 on the BSE.
The market capitalization of Vedanta Group increased by over Rs 2.2 lakh crore between March 28 and June 20, 2024, according to stock exchange data.
This is higher than the market capitalization growth seen by leading Indian companies such as Reliance Industries, Mahindra Group and Tata Group during the same period.
Vedanta and Hindustan Zinc share prices have doubled from their 52-week lows, supported by multiple positives including proposed demerger, management's continued focus on deleveraging and significant improvement in earnings, data shows of the stock market.
In comparison, the Adani and Mahindra groups saw their market capitalization rise by Rs 1.4 lakh crore each.
While Tata Group's market capitalization increased by over Rs 60,600 crore, heavyweight RIL's market valuation decreased by over Rs 20,656.14 crore during this period.
Vedanta posted its second-highest ever revenue of Rs 1,41,793 crore and EBITDA of Rs 36,455 crore in FY24, with an EBITDA margin of 30 per cent despite a subdued commodity cycle.
Vedanta Group has charted a strategic roadmap to achieve EBITDA of $10 billion in the near term, supported by timely execution of over 50 high-impact growth projects, including those in the zinc, aluminum, oil and gas and energy.
Growing investor conviction in Vedanta Group was evident in the growing shareholding of institutional buyers as foreign institutional investors' shareholding in Vedanta rose to 8.77 per cent at the end of the March quarter from 7.74 per cent. percent of the previous quarter.
Adding to the positive is strengthening raw material prices, which, along with the accrual of benefits from most cost optimization initiatives coming from FY25 onwards, is expected to support Vedanta's profitability, the analysts said.
Shares of Vedanta and Hindustan Zinc hit their all-time highs of Rs 506.85 and Rs 807 on May 22.
Shares of Vedanta rose 4.86 per cent to Rs 470.25 on Thursday, while Hindustan Zinc rose 2.29 per cent to Rs 647.65 on the BSE.
