Shares of the four recently split companies Vedanta Group Stocks posted strong gains on Friday, with shares of Vedanta Iron and Steel jumping 5% to hit the upper circuit, and shares of Vedanta Oil and Gas jumping over 6%.
Shares of Vedanta Iron and Steel ended a five-day losing streak, which began after the stock surged 113% in just 13 days since its June 15 listing. Power of Vedanta and shares of Vedanta Oil and Gas extend their gains.
The four Vedanta Group The shares made their stock market debut on June 15, concluding the mega-split that marked one of the largest corporate restructurings in India’s metals and mining sector.
Vedanta Iron and Steel share price
Shares of Vedanta Iron and Steel were listed at Rs 20 apiece on June 15. The stock then quickly jumped 113% in just 13 sessions, before the rally ran out of steam. The stock fell about 23% during the five-session losing streak.
The stock, however, rebounded by 5% today to remain stuck in the upper circuit at Rs 34.68 apiece on NSE. The company currently has a market capitalization of over Rs 13,561 crore.
Earlier this week, Vedanta Iron & Steel reported a 4% year-on-year increase in salable iron ore production to 2.6 million DMT in the first quarter of FY27. Sequentially, however, production fell 3% from the 2.7 million DMT reported in the fourth quarter of FY26. Vedanta Iron & Steel’s Karnataka plant saw a 46% year-on-year decline in production of salable iron ore, while plants in Goa and Odisha recorded production increases of 166% and 59%, respectively. Overall steel production, meanwhile, increased 4% year-on-year to 582,000 tonnes in the quarter under review.
Read also | JioBlackRock Flexi Cap Fund Exits Vedanta Group Companies After Split, Sells 8 More Stocks
Vedanta Oil & Gas share price
Vedanta Oil and Gas debuted at Rs 38 a piece on June 15. The stock then surged over 25% to hit a record high of Rs 47.60 a piece earlier this month. But this then declined sharply.
Shares of Vedanta Oil & Gas have rebounded this week, rising 12% over three sessions to hit an intraday high of Rs 40.24 apiece on NSE on Friday morning. The company currently has a market capitalization of nearly Rs 15,420 crore.
The company last week reported a 17% year-on-year decline in gross oil and gas production to 7.1 million boe for the April-June quarter of FY27, compared to 8.5 million boe in the corresponding quarter of the previous fiscal year. Sequentially, gross production also declined by approximately 4% from the 7.3 million boe reported in the fourth quarter of the previous fiscal year.
Vedanta Power share price
Shares of Vedanta Power jumped over 3% to trade at Rs 42.58 apiece on NSE on Friday morning. The company’s shares were listed at Rs 41.80 apiece on NSE on June 15. The stock has only gained nearly 2% since then.
The company said last week that power sales increased 38% year-on-year to 5,225 million units in Q1FY27 from 3,784 million units in Q1FY26. Sequentially, however, sales fell 6% from the 5,530 million units reported in Q4FY26.
Vedanta Aluminum stock price
Vedanta Aluminum shares are listed as the only large-cap stocks on the list, debuting at Rs 522 apiece on NSE and overtaking its parent in terms of market capitalization in June. Shares of the company jumped around 4% today to trade at Rs 459.4 apiece. However, the company’s shares have fallen 12% since listing.
The company last week reported its highest-ever quarterly aluminum production of 6.32 lakh tonnes in Q1FY27, an increase of 5% YoY and 3% QoQ. BALCO’s electricity sales increased by 21% year-on-year to 520 million units during the quarter under review.
Motilal Oswal sees 22% upside in this Vedanta stock
Motilal Oswal Financial Services has initiated coverage on Vedanta Aluminum shares with a ‘Buy’ rating and a target price of Rs 540 per share, implying an upside potential of around 22% from the stock’s previous closing price, with the domestic brokerage forecasting strong earnings growth and strong cash flow generation in the medium term.
In its note, the domestic brokerage called the company India’s largest primary aluminum company and the world’s third-largest aluminum producer, excluding China. He said the company has become one of the most compelling structural stories in the global aluminum sector, combining industry-leading scale, deep backward integration and a multi-year earnings growth trajectory.
Read also | Will Vedanta Aluminum shares see a 22% surge? Motilal Oswal Initiates Coverage with Buy, Lists Key Tailwinds
(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
