Buy Vedanta, target price Rs 157: Shrikant Chouhan

Shrikant Chouhan of Kotak Securities has a buy call on Vedanta with a target price of Rs 157. The current market price of Vedanta is Rs 150.45. Shrikant Chouhan recommended to keep a stop loss at Rs 144.5.

Vedanta, incorporated in the year 1965, is a large cap company (having a market cap of Rs 55,070.27 crore) operating in the diversified sector.

Vedanta key products/revenue segments include aluminium which contributed Rs 21,000 crore to sales value (54.34 per cent of total sales), oil & gas which contributed Rs 7,104 crore to sales value (18.38 per cent of total sales), copper which contributed Rs 6,833 crore to sales value (17.68 per cent of total sales), iron ore which contributed Rs 2,909 crore to sales value (7.52 per cent of total sales), export incentives which contributed Rs 322.00 crore to sales value (0.83 per cent of total sales), power which contributed Rs 252.00 crore to sales value (0.65 per cent of total sales), other operating revenue which contributed Rs 137.00 crore to sales value (0.35 per cent of total sales), scrap which contributed Rs 87.00 crore to sales value (0.22 per cent of total sales) for the year ending 31 March, 2019.

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 21,167 crore, down 8.34 per cent from last quarter sales of Rs 23,092 crore and down 3.53 per cent from last year same quarter sales of Rs 21,942 crore. The company has reported a net profit after tax of Rs 1,944 crore in latest quarter. The company’s top management includes Aman Mehta, G R Arun Kumar, K Venkataramanan, Mahendra Kumar Sharma, Navin Agarwal, Ravi Kant, Srinivasan Venkatakrishnan, Tarun Jain, U K Sinha, Lalita D Gupte and Priya Agarwal. The company has S R Batliboi & Co. LLP as its auditor. As on 30-06-2019, the company has a total of 3,717,196,639 shares outstanding.