Vedanta Share Price: Buying increased due to chip project, shares jumped 13% in a single day

Veteran mining MNC Vedanta Gujarat Share Price
A semiconductor and glass display factory will be built. Today, there was a significant amount of share buying following this statement. Today, September 14, based on a significant purchase
Its intraday share price increase brought it to Rs 314.80.

Vedanta Share Price

Were. After this, though, the price slightly dropped as investors booked profits, and on the BSE, it finished at Rs 305.45 with a gain of 10.01%.

The news of a new plant is causing a strong purchasing trend in Vedanta’s shares. However, if we consider the entire 2022, it has declined by around 14%. It hit a 52-week record high of Rs 440.75 on April 11 of this year, but it was unable to maintain the momentum and dropped to a 52-week record low of Rs 206.10 on July 1. Following this, Vedanta’s purchasing grew, and as of right today, it has regained 48%.

Vedanta Share Price is investing heavily in Gujarat.

With an investment of Rs 1.54 lakh crore, Vedanta is establishing a chip and display FAB plant in Gujarat in partnership with the Taiwanese business Foxconn. One of Vedanta’s largest investments is this one.

The semiconductor business is expanding quickly and might reach $ 6300 million by 2026, or in the next four years. It only amounted to $1500 million in 2020.

After Gujarat, Vedanta is getting ready to invest in Maharashtra and establish a hub for the production of iPhone and TV accessories.

The automotive and mobile device sectors both heavily rely on semiconductors. In addition, it is utilized in electrical goods. The majority of nations in the globe currently rely on other nations, particularly Taiwan, for their chip supply, but soon India may also join it.

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