Vedanta demerged stocks correct after sharp rally

Shares of the newly listed demerged Vedanta Group companies witnessed profit booking on Friday after a strong post-listing rally, with Vedanta Power leading the declines.

The four entities - Vedanta Power, Vedanta Oil & Gas, Vedanta Iron & Steel and Vedanta Aluminium Metal - began trading on the NSE and BSE on 15 June 2026 following Vedanta's landmark demerger aimed at unlocking shareholder value through separate listed businesses.

Vedanta Power dropped 6.45% to Rs 45.50, while Vedanta Oil & Gas fell 4.71% to Rs 42.49. Vedanta Iron & Steel declined 2.20% to Rs 41.71.

The correction follows a sharp rally in the newly listed stocks. Vedanta Power had gained 20.75% over the previous two sessions after listing at Rs 41.80 on 15 June 2026. Vedanta Oil & Gas had surged 38.31% in the last two sessions from its listing price of Rs 38. Vedanta Iron & Steel had more than doubled, soaring 113.25% in 13 consecutive sessions from its listing price of Rs 20 to Rs 42.65 on 2 July 2026. The sharp run-up prompted investors to lock in gains.

Bucking the broader trend, Vedanta Aluminium Metal rose 3.50% to Rs 477.90, extending its three-day gain to 6.56%. The stock had listed at Rs 522 on the NSE.

The gains in Vedanta Aluminium gathered momentum after a domestic broker initiated coverage on the stock with a 'Buy' rating and a target price of Rs 550, citing favourable demand, an improving cost curve and an attractive risk-reward profile.

Vedanta Iron & Steel has emerged as the best-performing demerged entity since listing. Investor sentiment received an additional boost after PI Opportunities AIF V LLP, an investment vehicle of Premji Invest backed by Azim Premji, acquired nearly 4.84 crore shares worth about Rs 102 crore at Rs 21.02 apiece through a bulk deal on the day of listing.

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