Shares of Vedanta climbed 2% today following Moody’s decision to upgrade Vedanta Resources’ corporate family rating from B3 to B2. This marks a significant boost for the company, which has been actively managing its liabilities and raising funds.
Moody’s announced the upgrade on Wednesday, citing Vedanta Resources’ successful liability management exercises, including raising $800 million through its second bond issuance since September 2024. The rating agency also upgraded the rating on the company’s senior unsecured bonds to B3 from Caa1.
As of 9:18 am the shares were trading 0.94% higher at ₹450.00 on NSE.
Adding to the positive momentum, Vedanta is set to invest $2 billion in Saudi Arabia to build copper-processing facilities, advancing the kingdom’s vision of becoming a global metals and mining hub. The project includes a new smelter and refinery with a capacity of 400,000 metric tons annually and a facility to produce up to 300,000 tons of copper rods annually, essential for electric cables.
This combination of strategic investments and improved credit ratings signals a strong position for Vedanta as it pursues global expansion and operational growth.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
