This company signs a Power Delivery Agreement (PDA) to procure 200 MW of solar renewable power!

The company has delivered stellar returns of 164.3 per cent in the last 3 years.

Vedanta Ltd is a diversified natural resource group involved in the exploration, extraction and processing of minerals, oil and gas. The group's activities encompass the exploration, production and sale of various minerals such as zinc, lead, silver, copper, aluminium and iron ore.

On June 3, 2023, Vedanta Ltd announced that Its subsidiary, Bharat Aluminium Company Limited (BALCO), has signed a Power Delivery Agreement (PDA) to procure 200 MW of solar renewable power for its aluminium operations in Chhattisgarh. The move supports Vedanta's goal of becoming "Net Zero Carbon" by 2050 and using 2.5 GW of renewable energy by 2030. The project will enhance BALCO's power supply, reduce reliance on commodity markets and contribute to sustainable operations.

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On Tuesday, shares of Vedanta Ltd opened at Rs 278.45 and experienced a surge of 0.25 per cent, making an intraday high of Rs 279.75.

The company has delivered stellar returns of 164.3 per cent in the last 3 years. Additionally, it maintains a ROCE of 23.8 per cent and a ROE of 20.4 per cent. Moreover, the company has a dividend yield of 36.5 per cent.

Investors should keep a close eye on this buzzing stock.