World's largest set management company increased stake in this Indian company, now shares will become storm!

There is a great news for Vedanta investors. Soon we may see a huge rise in the shares of this company. Many big giants of the world have increased their stake in Vedanta, which means their trust in the company has increased.

These companies increased stake in Vedanta

The world’s largest asset management company BlackRock, Abu Dhabi Investment Authority (ADIA), ICICI Mutual Fund and Nippon India Mutual Fund have increased their stake in Vedanta by about 2 percent in the last 4 months. Not only this, during this period, foreign institutional investors (FIIs) have also increased their stake in Vedanta by 1.2 percent.

Due to divestment plans, efforts to reduce debt burden and rising metal prices, the company’s shares have risen significantly recently, due to which foreign funds have also increased interest in this company.

Let us tell you that Larry Fink, CEO of BlackRock Inc., is considered the most powerful person in the world. BlackRock company manages assets worth $10 trillion in the world, which is about two and a half times the GDP of India and half the GDP of America.

Strong performance of company shares
Vedanta has given a strong return of 15.68% in the last 1 month. The company has pleased the investors by giving a return of 45.42% in the last 6 months and 23.82% so far this year. The 52 week high of Vedanta shares is Rs 322.

Why are the company’s shares rising?
The company’s shares have risen due to the rise in global metal prices. Apart from this, China’s strong industrial data has indicated expansion in construction activity there for the first time in the last 6 months. China is the largest consumer of many metals. Vedanta company is a major producer and supplier of iron ore, steel, copper and aluminium. The company has estimated an EBITDA of around $5 billion in the financial year 2024.