Business News | Vedanta's Four Demerged Businesses Begin Trading on Indian Stock Exchanges
Get latest articles and stories on Business at LatestLY. Vedanta's four demerged businesses, Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Iron & Steel, and Vedanta Power, began trading independently on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Monday. The companies were listed alongside parent entity Vedanta Limited.
New Delhi, [India] June 15 (ANI): Vedanta's four demerged businesses, Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Iron & Steel, and Vedanta Power, began trading independently on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Monday. The companies were listed alongside parent entity Vedanta Limited.
The newly listed stocks witnessed mixed performance during early trade. Vedanta Aluminium was trading at Rs 495.90, down 5 per cent from the day's high, while Vedanta Oil & Gas stood at Rs 36.10, also down 5 per cent. Vedanta Power traded at Rs 40.13, lower by 4 per cent.In contrast, Vedanta Iron & Steel gained 5.3 per cent to Rs 21.06. Vedanta Limited was trading at Rs 306.00, down 1.18 per cent.
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The demerger is aimed at creating focused, sector-specific businesses and unlocking long-term value. Vedanta Aluminium is India's largest aluminium producer, while Vedanta Oil & Gas starts operations as a debt-free company. Vedanta Iron & Steel and Vedanta Power will cater to India's infrastructure and energy needs, respectively. Vedanta Limited will continue to hold Hindustan Zinc and the group's critical minerals portfolio.
Speaking at the listing ceremony in Mumbai, Vedanta Group Chairman Anil Agarwal described the milestone as a historic moment for the company.
"24 years ago, Vedanta became the first Indian company to list on the London Stock Exchange and went on to become a FTSE100 company. The seed we sowed that day has grown into a vast banyan tree, and the saplings nurtured under it are now ready to become giants in key sectors and contribute significantly to India's rapid growth." he said.
Agarwal noted that demand for metals and energy will continue to rise with the growth of advanced manufacturing and artificial intelligence.
"The companies we have listed today will play a significant role in bridging the huge demand-supply gap for these vital raw materials. These companies have been built to serve the nation for generations, create long-term value for shareholders, strengthen India's self-reliance and support its ambition of Viksit Bharat," Agarwal noted.
He added that Vedanta's next phase of growth will depend on the support of shareholders, policymakers and the people of India.
"This is India's time, and we look forward to being part of that growth story," Agarwal said. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)