Stock Market LIVE Updates Today: Vedanta’s 4 Demerged Stocks Hit Dalal Street Today: Aluminium, Power, Oil & Gas, Iron & Steel Make Debut
Vedanta Demerger: The long-awaited demerger of Vedanta, led by Anil Agarwal, was finally executed with four newly carved-out entities of the group making their debut on the bourses on Monday. Shares of Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power and Vedanta Iron & Steel started trading on the BSE and NSE on Monday, ending one of the biggest restructuring exercises. The move creates focused companies for Vedanta’s many businesses, giving investors a choice of aluminium, energy, power and steel rather than buying the whole conglomerate.
The early market reaction suggests investors are beginning to value the group’s businesses on a stand-alone basis, something brokers have long said was difficult to do when all the operations were bundled together under one listed group.
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