The Indian rupee weakened past Rs 87 per US dollar for the first time, following President Trump’s tariff impositions on the country’s largest trading partners, driving a surge in the US dollar.
Trump followed through with his threats, imposing 25% duties on Canada and Mexico, and a 10% levy on China, calling them necessary to combat the flow of migrants and fentanyl into the U.S.
In response, Canada and Mexico immediately vowed retaliatory measures, while China announced plans to challenge the tariffs at the World Trade Organization. The tariffs, outlined in three executive orders, are set to take effect on Tuesday.
Meanwhile, the US dollar surged to a record peak against the Chinese yuan in offshore trading, its highest against Canada’s currency since 2003, and the strongest against the Mexican peso since 2022.
A stronger US dollar is considered negative for India’s metal sector, as it makes exports less competitive by raising prices for international buyers and increases the cost of imported raw materials, squeezing profit margins for domestic producers.Following these developments, the Nifty Metal index fell over 3%, with National Aluminium (NALCO), SAIL, NMDC, Hindcopper, and Hindalco dropping 4-5%.Also Read: Rs 5 lk cr wiped off! Trump tariffs among top 5 factors behind Sensex’s 700-pt fall
Vedanta Q3 earnings
Vedanta reported 76% year-on-year (YoY) in its consolidated net profit for the quarter ended December 31, 2024, to Rs 3547 crore. The profit is attributable to the owners of the company. Revenue from operations increased 10% YoY to Rs 38,526 crore.
Consolidated EBITDA during the third quarter rose 30% YoY to Rs 11,284 crore. Margins, meanwhile, improved 517 bps YoY at 34%.
Revenue growth during the quarter was driven by favourable market prices and higher premiums. The strong operating performance was mainly due to structural cost-saving initiatives across businesses, favorable output commodity prices, partially offset by input commodity inflation.
Also Read: Stocks in news: Power Grid, Divi’s Labs, RIL, ITC, Anant Raj
Vedanta shares target price
As per Trendlyne data, the average target price of the stock is Rs 513, which shows an upside potential of 22% from the current market prices. The consensus recommendation from 15 analysts for the stock is a ‘Buy’.
Also Read: KPIT Technologies among 7 stocks will trade ex-dividend on Tuesday. Last day to buy
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