Vedanta (NYSE:VEDL) Stock Price Up 5.2%

Vedanta Ltd (NYSE:VEDL) shares rose 5.2% on Thursday . The company traded as high as $8.48 and last traded at $8.48, approximately 1,292,826 shares traded hands during trading. An increase of 122% from the average daily volume of 581,172 shares. The stock had previously closed at $8.06.

The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $8.28 and its two-hundred day moving average is $8.70. The company has a market cap of $7.60 billion, a PE ratio of 7.47 and a beta of 1.34.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia lifted its stake in shares of Vedanta by 3.8% during the 2nd quarter. Bank of Nova Scotia now owns 36,032 shares of the basic materials company’s stock valued at $366,000 after buying an additional 1,332 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Vedanta by 22.7% during the 2nd quarter. Wells Fargo & Company MN now owns 14,426 shares of the basic materials company’s stock valued at $147,000 after buying an additional 2,668 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of Vedanta by 242.2% during the 3rd quarter. Lindbrook Capital LLC now owns 4,658 shares of the basic materials company’s stock valued at $40,000 after buying an additional 3,297 shares in the last quarter. CoreCommodity Management LLC lifted its stake in shares of Vedanta by 6.6% during the 2nd quarter. CoreCommodity Management LLC now owns 53,882 shares of the basic materials company’s stock valued at $548,000 after buying an additional 3,359 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Vedanta during the 2nd quarter valued at $47,000. Institutional investors own 3.57% of the company’s stock.

About Vedanta (NYSE:VEDL)

Vedanta Limited operates as a diversified natural resources company in India. The company produces oil and gas, zinc, lead, silver, iron ore, copper, and aluminum. It also operates 1,980 megawatts (MW) thermal coal-based commercial power facilities; a 600 MW thermal coal-based commercial power facility in Jharsuguda; a 600 MW thermal coal- based commercial power facility in Korba; 274 MW wind power plants; and a 100 MW power plant.

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