Vedanta Shares Fall After Earnings Announcement

Vedanta shares fell more than 4 per cent on Wednesday, a day after the mining company reported its quarterly earnings. Vedanta share price declined to as much as Rs 156.80 apiece on the National Stock Exchange (NSE) in early trade, marking an intraday decline of 4.1 per cent compared to the previous close. The Vedanta stock price opened at Rs 160.50 apiece on Wednesday, lower than Tuesday's close of Rs 163.50. Vedanta had on Tuesday posted a net profit of Rs 2,615 crore for the quarter ended March 31, as against Rs. 4,802 crore for the corresponding period a year ago. 

On the Bombay Stock Exchange (BSE), Vedanta shares declined as much as 4.04 per cent to hit an intraday low of Rs 156.80 apiece, compared to their previous close of Rs 163.40 apiece. 

At 9:48 am, shares in Vedanta traded 1.47 per cent lower at Rs 161 apiece on the BSE, underperforming the benchmark Sensex index which was down 0.48 per cent.