The stock of Vedanta Ltd (ADR) (NYSE:VEDL) hit a new 52-week high and has $15.70 target or 48.00% above today’s $10.61 share price. The 8 months bullish chart indicates low risk for the $8.15 billion company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $15.70 price target is reached, the company will be worth $3.91 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 29,552 shares traded hands. Vedanta Ltd (ADR) (NYSE:VEDL) has risen 146.32% since February 29, 2016 and is uptrending. It has outperformed by 134.10% the S&P500.
Analysts await Vedanta Ltd (ADR) (NYSE:VEDL) to report earnings on October, 25.
According to Zacks Investment Research, “Vedanta Limited is a natural resource company. The company’s business primarily involves exploring, extracting and processing minerals and oil & gas. Its segments include zinc, oil & gas, lead, silver, copper, iron ore, aluminium and commercial power. The company operates primarily in India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka. Vedanta Limited, formerly known as Sesa Sterlite Limited, is based in Panaji, India.”
More news for Vedanta Ltd (ADR) (NYSE:VEDL) were recently published by: Bidnessetc.com, which released: “Vedanta Ltd (ADR), Cairn India To Merge In All-Stock Deal” on June 15, 2015. Seekingalpha.com‘s article titled: “Vedanta: An Indian Natural Resources Company With 135% Upside” and published on July 21, 2016 is yet another important article.
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