Vedanta Share Price Hit 13% up after Vedanta and Foxconn Group Manufacturing News

In this article, we are going to analyze the Vedanta Share Price.

Mr. Anil Agarwal on Tuesday 13/09/2022 said that his company is going to consider its second chip and display manufacturing facility in India and announced that a $20 billion investment has been planned in Gujarat state. Mr. Agarwal said that it helps India to become a hub of chip manufacturers and would be able to meet the demand and supply the required chips to India as well as the whole of the world.

Thus two MoUs Vedanta and Foxconn Group, will bring in an investment of more than Rs 1.54 lakh crore and therefore generate approximately 1 lakh new employment opportunities in the state, as said by the company.

Why Semiconductor is Neccessary?

Semiconductors are very necessary for modern electronics enabling the nation to compete with others in providing economical growth, and national security. Semiconductors are used in various industries like Health care, electronics, military systems, clean energy, computing, and many other applications. In the coming future, the country’s growth would largely depend on the semiconductors and their uses.

As per Mr. Agarwal, they are going to set up two units and get attractive offers from Andhra Pradesh and Maharashtra but they will set up their second unit after producing units from its first plant in Gujarat.

Let us look at the Stock

Our analysis of the Vedanta Stock Chart

After the announcement of the establishment of two manufacturing units on 13 Sep 2022, Vedanta stock has gained 10% and hit the upper circuit and making a good return on investment for its buyers.

Vedanta Share Price on Daily chart

As you can see from the daily chart, EMA 10 has already crossed the EMA 20 on 22 July 2022 and it has already seen a bigger downfall before that period.

It seems like after 22 July 2022, the accumulation zone has begun and we could see bigger targets of around 420 in the long term after facing small resistances.

Vedanta Share Price on 5 minutes chart

After the News of Vedanta, Stock gained 10% and hit the upper circuit. In 5 minutes time frame, it crossed the upper Bollinger band and a good momentum could be seen.

If you have any queries, please comment down below. If you are good in market prediction, kindly comment down below the stock target.

*Disclaimer: does not hold responsibility for any errors and it is to inform its users that it is a blog that helps users to get information about all the markets in one place. Please consider this website for educational purposes only. We are not SEBI Register. We do not give advice on buying and selling. We only provide education and information related to markets.

Leave a Comment