Vedanta drops more than 10 per cent in last five sessions
DSIJ Intelligence / 05 May 2017
Share price of Vedanta declined 5.12 per cent in an early trade on Friday and at 1100 hours, it is trading at Rs 221.3 in an intraday basis. Its share price is sharply falling from last five trading sessions and eroded almost 10.11 per cent of shareholders’ wealth.
Share price of Vedanta declined 5.12 per cent in an early trade on Friday and at 1100 hours, it is trading at Rs 221.3 in an intraday basis. Its share price is sharply falling from last five trading sessions and eroded almost 10.11 per cent of shareholders’ wealth.
Metal stocks are trading at low in the first half of Friday. The index is trading at 184.23 points with loss of 1.65 per cent. From the metal index, share price of Vedanta had faced major jolt. It is contributing more than 78 points to the entire index loss of 184.23 points.
Share price of Vedanta tumbled owing to reducing global metal commodity prices as a whole.
Metals prices slid to their lowest levels in months on Thursday, amid worries over growth in China and the US. The reducing metal prices began on Chinese exchanges and rippled around the world.
According to the China Iron & Steel Association, oversupply isn’t easing as steel output falls and port stockpiles remain at elevated levels. Steel prices have also been falling.
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