Mumbai/IBNS, Jan. 30 -- Shares of Vedanta Ltd. fell 8% on Friday, despite the company reporting a strong Q3 performance, media reports said.

Analysts covering Vedanta, however, have raised their price targets for the stock, citing expectations that the ongoing demerger will unlock value and secure dividend payouts in the current fiscal year, CNBC TV18 reported.

Vedanta delivered exceptional financial performance with profit after tax jumping 60% YoY to Rs.7,807 crore.

The company reported a record quarterly EBITDA of Rs.15,171 crore, up 34% YoY supported by margin expansion of 629 bps to 41%.

Vedanta's Net Debt to EBITDA ratio improved to 1.23x from 1.40x, with a strong double-digit Return on Capital Employed (ROCE) at 27%, improving ...