Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.
Stock Analysis, IPO, Mutual Funds, Bonds & More

Buy Vedanta Ltd. target Rs 425 : Edelweiss Securities

Buy Vedanta Ltd. at a price target of Rs 425.

Apr 19, 2018, 09.51 AM IST
Edelweiss Financial Services has Buy on Vedanta Ltd. with a target price of Rs 425.
The current market price of Vedanta is Rs 301.5.
Time period given by analyst is Long Term when Vedanta Ltd. price can reach defined target.
Investment Rationale by EdelweissVedanta’s (VEDL) acquisition of Electrosteel Steels (ELSS) as value accretive in the near term as: i) EV/t of $546 is significantly lower compared to recent transactions; ii) EBITDA/t accretion potential via captive iron ore use & capacity ramp up; and iii) opportunity to expand beyond 2.51mtpa. Assuming EBITDA/t of INR6,500-7,000 post capacity ramp up and iron ore self sufficiency, Edelweiss Securities envisages returns for VEDL’s shareholders to be between 20 per cent and 25 per cent. The brokerage house maintained ‘Buy’ on Vedanta with a target price of Rs 425.
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Disclaimer: This recommendation is analyst's own and does not represent those of & Please consult your financial advisor before taking any position in the stock/s mentioned.

Other useful Links

Follow us on

Download et app

Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service