INSUBCONTINENT EXCLUSIVE:
Vedanta Ltd.: Sell Vedanta, target Rs 145: ICICI Securities - The TheIndianSubcontinentNever miss a great news story!Get instant
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?????BEN - ????? KAN - ?????ORI - ????TEL - ??????TAM - ?????ET NOW RADIOET NOWTIMES NOWSell Vedanta at a price target of Rs
145.ETMarkets.com|Apr 04, 2019, 06.27 PM ISTGetty ImagesThe current market price of Vedanta is Rs 187.15.ICICI Securities has a sell call on
Vedanta with a target price of Rs 145.
The current market price of Vedanta is Rs 187.15.
Time period given by the brokerage is one year when
Vedanta price can reach the defined target.
View of the brokerage: We visited Gamsberg mine in South Africa of Zinc International (ZI)
Black Mountain mining complex (Deeps + Swartberg + Gamsberg) is located in the Northern Cape province of South Africa with nearly 70 per
cent owned by Vedanta, 6 per cent by employees (ESOP) and 24 per cent by Exxaro resources
Phase-1 of the project with 250ktpa capacity (charts 1 3) is in operations and critical equipments have reached 80 per cent availability
Phase-2 will see capacity ramp-up to 450ktpa while an eventual phase-3 can take the total Metal in Concentrate (MIC) capacity to 600ktpa
The geology of the mines (relatively high percentage of manganese in the ore making it necessary to control it) has ensured better adoption
of technology in mixing ore grades and can perhaps lead to better efficiencies in the future
Execution of what appears a relatively intricate mining plan will be key in achieving volume and cost targets; intricacies which perhaps
Indian Zinc mining assets did not warrant
We maintain SELL on Vedanta with a target price of Rs 145 (per share).
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country/region.Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com ETMarkets.com
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