What’s in Vedanta Limited (VEDL) After Achieving 52 Week Low?

July 16, 2018 - By Jason Dias

Vedanta Limited (NYSE:VEDL) Logo

The stock of Vedanta Limited (NYSE:VEDL) hit a new 52-week low and has $11.54 target or 3.00 % below today’s $11.90 share price. The 8 months bearish chart indicates high risk for the $11.38 billion company. The 1-year low was reported on Jul, 16 by Barchart.com. If the $11.54 price target is reached, the company will be worth $341.31 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 2.62% or $0.32 during the last trading session, reaching $11.9. About 230,848 shares traded. Vedanta Limited (NYSE:VEDL) has risen 2.47% since July 16, 2017 and is uptrending. It has underperformed by 10.10% the S&P500.

Vedanta Limited, a diversified natural resources company, engages in exploring, extracting, and processing minerals, and gas and oil in India. The company has market cap of $11.38 billion. It produces gas and oil, zinc, lead, silver, copper, iron ore, and aluminum. It has a 7.2 P/E ratio. The firm also operates 600 megawatts of thermal coal based power facility in the State of Odisha; and 274 megawatts of wind power plants.

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