Vedanta Limited and JSW Steel are trending on July 18; here’s why!

Vedanta Limited and JSW Steel are trending on July 18; here’s why!

by 5paisa Research Team Last Updated: 2022-07-18T17:27:15+05:30 IST

The shares of Vedanta Limited and JSW Steel closed with a 4.19% and 1.5% gain, respectively on July 18.

Vedanta

On July 18, the shares of Vedanta surged on account of news regarding the company planning to introduce 2 new coal blocks in the state of Odisha in FY23. The company also had another news last week announcing a 30% dividend on its net profit for its shareholders. Vedanta Ltd is involved in the business of exploring, producing, and sale of zinc, lead, copper, silver, iron ore, and oil & gas.

Talking about financial ratios, the company has an ROE, ROCE, and dividend yield of 29.8%, 32.3%, and 19%, respectively, as per the March FY22 period ending. The company has a market capitalisation of Rs 88,246 crore and its shares are trading at a PE multiple of 4.55x.

On July 18, at the closing bell, the shares of Vedanta closed at Rs 237.4 with a 4.17% gain for the day.

JSW Steel 

To reduce carbon emissions and achieve decarbonization goals, JSW Steel has partnered with Boston Consulting Group. The company has set an aggressive goal of cutting its carbon emission by 42% from the base year 2005 by 2029-2030. The goal of this partnership is to employ digital and analytics to monitor, assess, simulate, and improve the environmental performance of its business operation.

JSW Steel is one of the largest steel manufacturer and seller in India with a capacity of around 12 million tons per annum.

The global iron and steel industry contributes about 8% to the total carbon dioxide emission globally, whereas the Indian iron and steel industry contributes almost 12% to the carbon dioxide emission in India. As a result, considering the promises made at the COP26 conference, the Indian steel industry must significantly reduce its emissions.

As per the March FY22 period ending, the company has an ROE, ROCE, and dividend yield of 29.8%, 32.3%, and 19%, respectively.

On July 18, at the closing bell, the shares of JSW Steel closed at Rs 585 with a 1.5% gain for the day.


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