shares traded largely flat after rising as much as 3 per cent in early trade on Friday, with investors closely tracking the upcoming listing of the group’s four demerged businesses next week.
The stock opened 3 per cent higher at ₹314 on the NSE, but gave up most of its gains during the session. At around 1 pm, Vedanta shares were trading flat at ₹304.45.
The stock remains in focus ahead of the listing of four newly created companies that emerged from Vedanta Ltd’s demerger exercise. The entities — Vedanta Aluminium Metal (VAML), Vedanta Oil & Gas (VOGL), Vedanta Power and Vedanta Iron & Steel (VISL) — are scheduled to begin trading on the BSE and NSE on June 15.
Vedanta’s demerger plan received approval from the National Company Law Tribunal (NCLT) in December last year and became
Under the approved 1:1 demerger scheme, shareholders received one equity share in each of the four demerged companies for every one share held in Vedanta Ltd.
The newly listed stocks will be placed in the trade-for-trade segment for the first 10 trading sessions following their debut.