Vedanta shares slip as the firm discusses issuance of non-convertible debentures
Vedanta Resources, the parent company of the mining operator, faces repayments of bonds worth around $2 billion in the 2025 fiscal.
![Vedanta shares slip as the firm discusses issuance of non-convertible debentures](https://cdn.zeebiz.com/sites/default/files/2023/09/21/261578-vedanta-reuters.jpg?im=FitAndFill=(1200,900))
Vedanta Ltd Share Price: The stock of Vedanta Ltd closed trading on Thursday (September 20) on a poor note as it slumped 2.26 per cent, or Rs 5.25, to Rs 226.55, on a day when the company discussed the proposal for issuance of non-convertible debentures on a private placement basis in a committee of directors meet today.
Vedanta Resources, the parent company of the mining operator, faces repayments of bonds worth around $2 billion in the 2025 fiscal. Including these bonds, the company is facing a debt repayment worth $3.6 billion in the next financial year, according to Kotak Institutional Equities.
How Vedanta shares have fared
Shares of Vedanta have been faring poorly on the bourses for over a year. The stock of the Anil Agarwal-led company has slipped 3.68 per cent in the last five trading sessions, slid 3.66 per cent in the last month, stuttered 20.58 in the last six months, nosedived 28.33 per cent year-to-date and has slumped 19.29 per cent in the last one year.
It has underperformed the benchmark Nifty 50 by leaps and bounds in the last one year.
The Nifty 50 has slid 2.02 per cent in the last five trading sessions, jumped 1.78 per cent in the last one month, soared 15.10 per cent in the last six months, gained 8.49 per cent year-to-date, while catapulted 11.98 per cent in the last year.
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