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    HomeNewsBusinessStocksBuy Vedanta; target of Rs 278: Axis Direct

    Buy Vedanta; target of Rs 278: Axis Direct

    Axis Direct is bullish on Vedanta has recommended buy rating on the stock with a target price of Rs 278 in its research report dated May 23, 2017.

    June 09, 2017 / 10:55 IST
       
       
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      Axis Direct's research report onVedanta

      FY18 capex guidance at USD 1.2 bn which includes (1) USD 0.4 bn for Zinc India, (2) USD 0.2bn for Gamsberg, (3) USD 0.16 bn for Aluminum and Power business, and (4) USD 0.25 bn for oil & gas business. Capex in FY17 at USD 0.7bn against original guidance of USD 1 bn mainly due to lower spend in oil & gas business.

      Outlook

      We maintain our FY18/19 EPS estimate at Rs 31/37. Maintain BUY with a target price at Rs 278 (15% upside from CMP of Rs 241) based on SOTP valuation.

      For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      first published: May 26, 2017 04:44 pm

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