Home / Business and Economy / Vedanta Stocks Surge Post-Listing Correction
Vedanta Stocks Surge Post-Listing Correction
13 Jul
Summary
- Vedanta Group stocks recovered strongly after their recent debut.
- Four Vedanta Group companies listed on June 15, marking a major restructuring.
- Brokerages are issuing bullish calls for Vedanta Aluminium, expecting growth.
Vedanta Group stocks demonstrated a strong recovery on Monday, following their recent market debut. The rally saw shares of Vedanta Iron and Steel, Vedanta Oil and Gas, Vedanta Aluminium, and Vedanta Power increase in value.
These four Vedanta entities officially listed on stock exchanges on June 15, finalizing a significant demerger that represents one of India's largest corporate restructurings in the metals and mining sector.
Vedanta Iron and Steel shares, after an initial surge and subsequent dip, showed a notable recovery, trading higher today. The company recently reported a slight year-on-year increase in saleable iron ore production for Q1 FY27.
Vedanta Oil and Gas shares also rebounded, surpassing their listing price. The company has seen positive momentum over the past few sessions.
Vedanta Power experienced a modest gain, with its power sales showing a year-on-year growth in Q1 FY27, despite a sequential decrease.
Vedanta Aluminium, the largest listed entity among the demerged companies, also traded higher. It recently achieved its highest-ever quarterly aluminium production.
Brokerages have expressed strong optimism for Vedanta Aluminium, with several initiating 'Buy' ratings and target prices indicating significant upside potential. Analysts highlight the company's rapid expansion, expected EBITDA growth, and the current strength in aluminium prices.
