DO YOU KNOW?
Photo: Maffat.com |
The promoters' holding in Vedanta Ltd, stood at 59.52 % while Institutions
and Non-Institutions held 22.99 % and 9.91 % respectively.
Vedanta Ltd is the only company who has resumed iron ore mining in Goa
after the Supreme Court lifted its 2012 ban. The company resumed mining
operation in the state in August this year.
However, the rates at which iron ore is to be transported is the bone of contention between the mining companies and truckers. The issue started with the transportation of e-auctioned iron ore. The state government had sold a total of 7.4 million tonne of iron ore through 13 e-auctions out of the 16.56 million tonne identified for e-auction. The directorate of mines and geology had notified a rate of Rs.12.33 per tonne per km for the transportation of the e-auctioned ore on April 21. Around 1,300 trucks were engaged to
transport e-auctioned and freshly mined ore from Codli to Amona/Surla by
Vedanta Ltd.
Now, while, the Truck Owners Association is demanding a rate of Rs.17.63 per km, the mining firms, already reeling under
the impact of a meltdown in iron ore prices and plethora of taxes, have
offered to pay Rs.8 per km.
According to Aniruddha Joshi head,
corporate affairs, Vedanta Ltd, around 600 truck owners have already agreed to
ply at the rate of Rs.8 per tonne per km. This brings some visibility, in the ongoing tussle between Vedanta Limited and truck owners transporting iron ore.
Therefore, the stock at the CMP of Rs.84.30, remains one of the best buys for the next 2-3 months perspective, with a SL of Rs.77 and a target price of Rs.109.
You must have remembered that I recommended Pipavav Defence Ltd at Rs.38.75, as a sure shot BUY for 18 months price-target of Rs.90; on 27 September, 2014 (amid all so-called-uproars and acquisitions of pumping up a loss-making-no-future-company).
I then asked all the long term investors to accumulate the scrip on all declines. After that Pipavav Defence Ltd, had almost doubled from the recommended rate, made a 52-week high of Rs.85 and is now trading at Rs.79.45.
I then asked all the long term investors to accumulate the scrip on all declines. After that Pipavav Defence Ltd, had almost doubled from the recommended rate, made a 52-week high of Rs.85 and is now trading at Rs.79.45.
In a similar way, the long time investors will see value additions, in their investments in Vedanta Ltd from the CMP of Rs.84.30, over a period of time. It is a must BUY, for all the long term investors.
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