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| Name | Editor’s Take | Why Vedanta is a buy on dip? Nikunj Dalmia explains |
| Video Uploader | Video From ET NOW |
| Upload Date | This Video Uploaded At 18-08-2021 03:50:44 |
| Video Discription | Vedanta was down over 10% in Tuesday’s trade! This is because the Board meeting of Hindustan Zinc - in which Vedanta has 64.92% stake - to consider interim dividend, was deferred. Vedanta had received Rs 5,800 cr in the last dividend announcement and depends on Hindustan Zinc's cash flows partially for debt servicing. Analysing this, ET NOW’s managing editor Nikunj Dalmia says, “Metal stocks have gone through a gangbuster move, given the incremental demand. The setup for metals for the next couple of months is definitely not looking bad.” “Now, what happened with Vedanta can be termed temporary because the company is in need of cash and Hind Zinc’s deferment of dividend meet was bad news for them. Over the past few months, Vedanta had become an over-crowded trade because of the uptick in non-ferrous metal prices and in anticipation of a strong dividend payout. Thus, the bad news saw an over-reaction in the markets,” he says. Vedanta might have unique challenges, which are not applicable to Hindalco or Nalco, so it will be a volatile stock. “But the underlying force of commodity prices is so strong that news-based selloff, which will not have any long-term impact on balancesheet, should be considered as buying opportunity,” he says. Watch! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com |
| Category | News & Politics |
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