Vedanta shares in news as firm reports output for aluminium, iron ore, zinc in Q1

Shares of mining giant Vedanta are in news today after the firm reported a rise in production of aluminium, zinc, iron ore and steel in the June quarter. The aluminium output rose 3 per cent to 5,96,000 tonne in the first quarter over the year-ago period.

Vedanta shares ended 1.29% higher at Rs 463.75 on BSE on Wednesday. Market cap of the firm stood at Rs 1.72 lakh crore. A total of 7.60 lakh shares of the firm changed hands amounting to a turnover of Rs 35.06 crore on BSE. Vedanta shares have a one-year beta of 1, indicating average volatility during the period.

At Zinc India, the saleable metal output rose to 2,62,000 tonnes over 2,60,000 tonne.

While at Zinc International, the mined metal output dropped to 38,000 tonnes, over 68,000 tonnes in the first quarter of FY24.

However, oil and gas output fell 17 per cent to 112,400 average daily gross operated production (boepd) during the quarter from 134,900 boepd a year earlier. The production of saleable iron ore climbed to 1.3 million tonnes over 1.2 million tonnes in the year-ago period.

The total saleable steel output rose 10 per cent to 3,56,000 tonnes and power sales climbed 13 per cent to 4,791 million units from 4,256 million units in the April-June period of the last financial year.

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan, and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium and power.