Vedanta Iron & Steel shares extend winning streak, surge 10%; stock up 70% since listing
Shares of Vedanta Iron & Steel surged 10% to Rs 35.65 during Tuesday's trading session, extending their winning streak to 11 consecutive sessions. The stock
Shares of Vedanta Iron & Steel surged 10% to Rs 35.65 during Tuesday's trading session, extending their winning streak to 11 consecutive sessions. The stock has now gained over 70% since its market debut earlier this month.The company was listed on the NSE and BSE on June 15, 2026, following the Vedanta Group's demerger. It debuted at Rs 20 per share on the NSE, giving it a market capitalisation of around Rs 7,821 crore. After the sustained rally, the company's market value has nearly doubled to approximately Rs 13,941 crore.Investor sentiment received an early boost after Azim Premji-backed Premji Invest's PI Opportunities AIF V LLP acquired shares worth Rs 102 crore soon after the company's market debut, signalling strong institutional confidence in the newly listed entity.Vedanta Iron & Steel has outlined an ambitious growth strategy aimed at becoming a resource-backed integrated steel platform, leveraging its long-life iron ore reserves and operational integration.
The company plans to expand capacity across key product segments, including ferro-silicon, ductile iron pipes, wire rods, and rebars.Backed by nearly 4 billion tonnes of iron ore reserves and resources, which provide over 50 years of raw material security, the company is building an integrated business model designed to create long-term value across the iron ore and steel value chain.The company operates across India and Africa, with businesses spanning iron ore exploration, mining, and processing. Its product portfolio includes steel, wire rods, TMT bars, pig iron, ductile iron (DI) pipes, ferro-silicon, cement, and metallurgical coke.The sharp rally in Vedanta Iron & Steel shares appears to be driven by a combination of strong institutional buying and positive investor sentiment surrounding the Vedanta Group's demerger.
Market participants are increasingly betting on the value-unlocking potential of the standalone steel business, with sustained buying interest keeping the stock firmly in the upper
circuit.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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