Home / Business and Economy / Vedanta Demerger: New Stocks Hit Markets
Vedanta Demerger: New Stocks Hit Markets
15 Jun
Summary
- Vedanta Aluminium Metal shares listed at Rs 527 on BSE.
- Vedanta Power shares climbed to Rs 43.35 after listing.
- Some demerged Vedanta stocks saw profit booking post-listing.
Vedanta's recently demerged business units have commenced trading, with their shares listing on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The Vedanta Aluminium Metal division's shares debuted at Rs 527 on the BSE, reaching an early peak of Rs 538. Similarly, Vedanta Power shares opened at Rs 41.30 and later climbed to Rs 43.35. Vedanta Oil and Gas began trading at Rs 39, scaling to Rs 40.95, while Vedanta Iron and Steel listed at Rs 22.25.
On the NSE, Vedanta Aluminium Metal started at Rs 522, Vedanta Power at Rs 41.80, and Vedanta Oil and Gas at Rs 38. Post-listing, a notable trend emerged: Vedanta Aluminium Metal, Vedanta Oil And Gas, and Vedanta Iron And Steel experienced a downturn due to profit-taking activities. In contrast, Vedanta Power shares bucked this trend, trading higher as a result of sustained buying interest from investors.
