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VEDL Share Price Target
Vedanta Ltd.
Sector: Mining
Sector: Mining
VEDL Share Price *
150.2 +4.8 (3.3%)
* (quote may be delayed)
VEDL Share Price Forecast - Consensus
| No. of reports in last year | 6 |
| No. of analysts | 3 |
| Average Consensus Forecast | 217.67 |
| Consensus Potential | 28.42% |
VEDL Share Price Target - Broker Reports - 2019
Edelweiss
18-Jun-19
Price @ Call: 167.51
Target: 175
HOLD
We expect Vedanta to benefit from cost control at aluminium (Al) division and higher volumes at oil & gas division in FY20, despite lower base metal prices, due to: 1) Q1FY20 hot metal cost expected at INR1,700-1,750/t compared to USD1,935/t in Q1FY18 and USD1,776/t in Q4FY19; and 2) 15koepd additional volume Q2FY20 onwards from commissioning of the RDG early gas facility. Additionally, integration of shaft at SK mine will add 3.75mtpa of hauling capacity, thus boosting the mine’s capacity to 6mtpa. On the flip side, lower LME zinc and steel prices are expected to keep performance muted. Maintain ‘HOLD’ with TP of INR175/share. The stock is currently trading at 3.8x FY21E EBITDA.
Investec Securities
29-May-19
Price @ Call: 169.1
Target: 233
BUY
Edelweiss
12-Feb-19
Price @ Call: 152.1
Target: 175
BUY
We view the related-party transaction between Volcan Resources (Volcan) and Vedanta (VEDL) as imprudent capital allocation as it: 1) neither confers voting rights nor ownership of underlying Anglo American (AAL) shares to VEDL shareholders; 2) amounts to VEDL shareholders funding the ultimate parent; and 3) raises concerns on further relatedparty transactions in the future given that VEDL is the major cashgenerating entity in the group. In this light, we are pruning the target multiples for all divisions (except Zinc-India and Oil & Gas) by 30%, discounting cash ex-Zinc India by 25% and raising conglomerate discount to 35% (from 20%). Maintain ‘BUY/SO’ with a revised TP of INR175 (versus INR250 earlier), implying an exit multiple of 4.6x FY21E EBITDA.
ICICIdirect.com
1-Feb-19
Price @ Call: 163.58
Target: 145
SELL
Challenging operating environment to sustain; downgrade to SELL... Vedanta’s earnings remain sensitive to nonferrous and crude oil prices. Nonferrous prices have witnessed volatility and declined primarily on account of uncertainty over global trade due to trade friction between the US and China. Crude oil prices have also witnessed a declining trend from November 2018, which would have a negative impact on the company’s future earnings. We value the stock on an SOTP basis and arrive at a target price of | 145 with a SELL rating on the stock.
VEDL Share Price Target - Broker Reports - 2018
Edelweiss
17-Dec-18
Price @ Call: 201.2
Target: 285
BUY
Edelweiss
16-Oct-18
Price @ Call: 210.95
Target: 293
BUY
ICICIdirect.com
2-Aug-18
Price @ Call: 214.44
Target: 235
HOLD
Motilal Oswal
1-Aug-18
Price @ Call: 222.25
Target: 269
BUY
Edelweiss
1-Aug-18
Price @ Call: 222.25
Target: 293
BUY
ICICIdirect.com
25-May-18
Price @ Call: 250.4
Target: 315
BUY
ICICIdirect.com
8-May-18
Price @ Call: 283.85
Target: 350
BUY
Motilal Oswal
4-May-18
Price @ Call: 286.35
Target: 345
BUY
Edelweiss
4-May-18
Price @ Call: 286.35
Target: 410
BUY
ICICIdirect.com
19-Apr-18
Price @ Call: 307.42
Target: 375
BUY
Edelweiss
18-Apr-18
Price @ Call: 289.65
Target: 425
BUY
Edelweiss
2-Apr-18
Price @ Call: 278.3
Target: 425
BUY
Edelweiss
1-Feb-18
Price @ Call: 339.5
Target: 425
BUY
Motilal Oswal
31-Jan-18
Price @ Call: 340.48
Target: 416
BUY
Investment Imperative
8-Jan-18
Price @ Call: 339.25
Target: 396
BUY
VEDL Share Price Target - Broker Reports - 2017
Shahina Mukadam
29-Nov-17
Price @ Call: 303.15
Target: 340
HOLD
Motilal Oswal
3-Nov-17
Price @ Call: 340.5
Target: 394
BUY
Edelweiss
3-Nov-17
Price @ Call: 340.5
Target: 425
BUY
Axis Direct
22-Sep-17
Price @ Call: 322.6
Target: 362
BUY
Edelweiss
20-Sep-17
Price @ Call: 323.15
Target: 350
BUY
Axis Direct
8-Sep-17
Price @ Call: 326.15
Target: 362
BUY
ICICIdirect.com
4-Sep-17
Price @ Call: 314.35
Target: 325
HOLD
Motilal Oswal
2-Sep-17
Price @ Call: 312.04
Target: 361
BUY
Axis Direct
31-Jul-17
Price @ Call: 274
Target: 310
BUY
ICICIdirect.com
26-Jul-17
Price @ Call: 274
Target: 285
HOLD
Edelweiss
25-Jul-17
Price @ Call: 274
Target: 309
BUY
Motilal Oswal
14-Jul-17
Price @ Call: 263
Target: 311
BUY
Edelweiss
12-Jul-17
Price @ Call: 260
Target: 315
BUY
ICICIdirect.com
17-May-17
Price @ Call: 242
Target: 260
HOLD
Kotak Securities
16-May-17
Price @ Call: 241.3
Target: 300
BUY
Edelweiss
15-May-17
Price @ Call: 241
Target: 288
BUY
Edelweiss
12-Apr-17
Price @ Call: 259
Target: 300
BUY
Axis Direct
21-Feb-17
Price @ Call: 271
Target: 289
BUY
Centrum
15-Feb-17
Price @ Call: 254.6
Target: 325
BUY
Edelweiss
15-Feb-17
Price @ Call: 248
Target: 310
BUY
VEDL Share Price Target - Broker Reports - 2016
Edelweiss
3-Nov-16
Price @ Call: 218
Target: 300
BUY
Centrum
1-Nov-16
Price @ Call: 202.6
Target: 250
BUY
Powermywealth.com
24-Aug-16
Price @ Call: 175.85
Target: 215
HOLD
Axis Direct
1-Jul-16
Price @ Call: 127
Target: 200
BUY