Share of the diversified Indian conglomerate got a boost from an analyst upgrade.
Piedmont Lithium shows rising price performance, earning an upgrade to its IBD Relative Strength Rating from 78 to 81.
Even though the rapid spread of the COVID-19 Delta variant has been worrying investors, interest in commodities is soaring. That’s because President Biden’s infrastructure bill makes the prospects bright for several commodities. Consequently, we think it could be wise to bet on quality commodities stocks, Rio Tinto (RIO), Glencore (GLNCY), Fortescue Metals (FSUGY), and Vedanta (VEDL). They are currently trading below their 52-week price highs but have immense growth potential. Let’s look closer
- Record consolidated quarterly Revenue of ₹ 28,105 crore, up 79% Y-o-Y
A robust economic recovery outlook has unleashed a manufacturing boom so far this year, making the backdrop favorable for basic materials stocks. Prices of basic materials have been on the rise, backed by strong demand from industrial activities. Amid this environment, we think investors should bet on companies in the basic materials space that possess strong enough pricing power to combat any downturn caused by rising inflation. We believe under-the-radar basic materials stocks Tredegar Corp (TG), CRH Plc (CRH), LyondellBasell Industries (LYB), and Vedanta (VEDL) possess that characteristic and are worth adding to one’s portfolio now. Let’s take a closer look.
Metals and mining stocks have been recovering nicely over the past few months, spurred by investors’ rising interest in precious metals in the face of rising inflation and potential federal spending on infrastructure projects. Hence, investors seeking to capitalize on the rising metal prices should consider betting on mining stocks Vedanta (VEDL), Centerra Gold (CGAU), Sierra Metals (SMTS), and Jaguar Mining (JAGGF). They are each still trading at a reasonable price.
- All time high EBITDA for Q4 FY2021 at ₹ 9,107 Crore, up 88% Y-o-Y
Vedanta Limited - The following release was issued today by Vedanta Limited's subsidiary Hindustan Zinc Limited
Copper prices are nearing a nine-year high due to rising demand and limited supply. And because the U.S. is facing the prospect of heavy, government-driven, infrastructure spending copper is expected to break the nine-year-high price level soon. Consequently, Global X Copper Miners ETF (COPX), United States Copper Index Fund ETV (CPER), and iPath Series B Bloomberg Copper Subindex Total Return ETN (JJC) are expected to gain substantially in the near term. Read on.
Investors in Vedanta Ltd (VEDL) saw new options begin trading this week, for the December 17th expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 242 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration..
Investors in Vedanta Ltd (VEDL) saw new options begin trading this week, for the April 16th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the VEDL options chain for the new April 16th contracts and identified one put and one call contract of particular interest.