Vedanta Shares Surge on Demerger Approval

New Delhi, Dec 16 (PTI) Shares of Vedanta climbed nearly 4 per cent on Tuesday after the National Company Law Tribunal approved its demerger plan, paving the way for splitting the group into sector-specific entities across aluminium, oil and gas, power, and iron and steel.

The stock edged higher by 3.52 per cent to settle at Rs 569.35 on the BSE. During the day, it jumped 4.18 per cent to Rs 573 -- its 52-week high.

At the NSE, the stock climbed 3.65 per cent to Rs 569.50.

The company's market valuation went up by Rs 7,566.6 crore to Rs 2,22,637.94 crore.


"The sanction to the company scheme is granted," the Mumbai bench of the tribunal, comprising Charanjeet Singh Gulati and Nilesh Sharma, said.

The National Company Law Tribunal (NCLT) had reserved the order after hearing the matter in November.

Vedanta welcomed the NCLT order pronounced on Tuesday, sanctioning the company's demerger scheme.

"The approval marks a key milestone in Vedanta's transformation into focused, sector-leading companies with clear strategic mandates and dedicated capital structures. The company will now proceed with the necessary steps to implement the scheme," a Vedanta spokesperson said.