5 New Shares On 1 Soon: Vedanta Shares At 52-Week High As Silver Rate Rallies! Buy Ahead of Demerger, Q3?

Vedanta Share Price Today: Shares of Vedanta Limited surged to a fresh 52-week high on Wednesday, January 14, as sustained investor optimism around the record rally in silver prices, the company's upcoming demerger, and the anticipated Q3 results announcement continued to drive strong buying interest in the metal major.

Vedanta shares were trading 4.32% higher at Rs 664.65 per share on BSE with a market capitalisation of Rs 2,59,688.87 crore at 10:19 am. The stock had touched a 52-week high mark of Rs 675.85 per share on BSE on Wednesday. Vedanta's share price had dipped to an intraday low of Rs 643 per share.

Vedanta Share Price Jumps To Fresh Record High

Shares of the metal-to-mining conglomerate have surged significantly in the past few trading sessions. The metal stock has created back-to-back fresh records in the past few trading sessions. Earlier in the session, Vedanta's share price surged to a fresh record high of Rs 673 per share, only to quickly surpass the milestone and hit a new all-time high of Rs 675.85 per share within minutes

Why Vedanta Shares Are Rising Today?

A host of factors are coming into play to fuel the Vedanta share price rally from a sharp surge in commodities prices, update on Vedanta demerger plan, and upcoming Q3 results announcement.

Silver Rate In India Rally

Vedanta is the parent firm of Hindustan Zinc, which is the largest silver producer in India. As a result, the significant rally in the silver rate in India over the past few weeks has renewed investors' interest in Vedanta shares.

Vedanta Demerger

The Anil Agarwal-led Vedanta received mandatory approvals for the demerger of its subsidiaries last year. Vedanta Limited received approval after the National Company Law Tribunal (NCLT), Mumbai Bench, approved the Scheme of Arrangement involving Vedanta Limited and its subsidiary.

Vedanta Share Price Recommendation

Brokerage Nuvama gave a 'Buy' rating to Vedanta, indicating an 18% upside in its valuation. The brokerage has given a target price of Rs 806 per share, revising its previous target price of Rs 686 per share.

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