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The price of copper could potentially retest $10,500 to $11,000 levels by the end of the year due to tight supply conditions and strong demand from China, according to Saumil Gandhi, senior analyst at HDFC Securities. However, in the short term, base metal prices are expected to experience further downside pressure.The long-term outlook for copper is moderately bullish, mainly due to ongoing mining supply issues in Chile and Peru and an increasing demand for copper in India as a result of higher government spending.

The Relative Strength Index of the stock stood at 45.21 on Thursday.

MCX Silver futures surpassed their previous 7-week high of Rs 68,185 and were trading at Rs 69,781 in early trade. They were up by Rs 472 per kg or 0.68%. Meanwhile, the April Gold futures were trading at Rs 59,215, higher by Rs 459 or 0.78% per 10 grams.

A total of 13,166 shares changed hands on the counter till 11:01AM (IST)

Promoters held 62.21 per cent stake in the company as of 31-Dec-2022, while FIIs owned 12.83 per cent, DIIs 15.85 per cent.

Vedanta Resources recently repaid $250 million in loans that the company took from Barclays Bank and Standard Chartered Bank, according to regulatory filings. The company had earlier said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns about its financial position.

Gold prices jumped 2% on Wednesday after the Fed raised interest rates, but indicated it might pause further increases in borrowing costs after the recent collapse of two U.S. banks.

Global markets have been volatile, with bank shares battered in the past two weeks following the sudden failures of two U.S. lenders an emergency sale of embattled Swiss banking behemoth Credit Suisse.

The government has proposed to sell 5.852 million shares representing 1.75% of equity capital, with a green shoe option of another 5.852 million shares in the event of the oversubscription. Non-retail investors can subscribe to the offer on Thursday and retail investors on Friday.

It formed Higher Highs and Higher Lows on the long-term chart and is trading close to 52-week highs. It is advised to keep a bullish outlook and to buy at the support level of 3200-3250 with a stop loss of 2990. On the higher side, 3600+ levels are possible.