Shares of Vedanta hit a 52-week record high, surging over 4% and jumping over Rs 300 ahead of the firm’s meeting for fundraising through market-related instruments set to be held today.
In its regulatory filing on April 1, Vedanta stated, “We would like to inform you that the Company proposes to hold a meeting of its duly constituted Committee of Directors on Thursday, April 4, 2024, to consider the proposal for issuance of Non-Convertible Debentures on a private placement basis as part of its routine financing and refinancing that is undertaken in the ordinary course of business.”
The Anil Agarwal-led firm reached a 52-week high of Rs 312.50, marking a rise of 4.67% in the current session. In terms of returns, the stock has experienced a 28.11% decline over two years and a 7% increase in one year.
Over five years, the stock has climbed by 61.90%. The stock previously hit a 52-week high of Rs 308 on April 3, 2024, and Rs 301.90 on April 2, 2024.
Vedanta Aluminium has increased its annual alumina refining capacity to 3.5 million tonnes at its Lanjigarh unit in Odisha, up from 2 million tonnes per annum (MTPA). The company plans to further raise alumina refining capacity to 5 MTPA and increase aluminium production capacity to 3 MTPA from the current 2.37 MTPA.
As of 11:00 am, the shares were trading at ₹304.60.
