Vedanta Share Price Declines As Metal And Iron Stocks Post Losses
Vedanta’s share price declined over 5.5% on Friday, in line with the Nifty Metal index, which fell nearly 4%. This decline outpaced the benchmark Nifty 50, which dipped by 1.07%.
The metal index’s drop is attributed to global economic uncertainty and concerns about potential trade wars, following US President Donald Trump’s announcement of new tariffs.
The US tariffs on steel and aluminum are expected to have minimal direct impact on metals, given the low export volumes to the US. However, there’s a higher risk of a severe US recession, which could significantly affect commodity prices.
Despite the decline in its share price, Vedanta released a strong business update on Thursday.
The company reported a 2% increase in aluminium production,…
