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News Topical, Digital Desk : Vedanta Limited shares will be in focus on Wednesday, April 29, for two major reasons. The first reason is the company's demerger, for which the record date is May 1, a market holiday. This means the stock will begin trading ex-demerger on April 30. Due to T+1 settlement, today is the last day for investors who wish to take advantage of the demerger. Investors must have shares in their demat accounts by today's close. Investors who purchase shares on April 30 will not receive the demerger benefits.
Vedanta Demerger News
Eligible shareholders will receive one share each of Vedanta Aluminium Metal Ltd., Talwandi Sabo Power Ltd. (to be renamed Vedanta Power Ltd.), Malco Energy Ltd. (to be renamed Vedanta Oil & Gas Ltd.), and Vedanta Iron and Steel Ltd. for every one share held. Following all approvals, five Vedanta Group companies could be listed on the stock exchange within the next six to eight months.
Vedanta Q4 Results
Another major reason is that the company will also release its January-March quarter results. This quarter is expected to be strong due to higher prices for silver, aluminum, and zinc. The company's aluminum segment appears to be in a better position, although some gains may be offset by hedged volumes. The oil and gas division's EBITDA is expected to remain stable. Nearly 45 percent of Vedanta's EBIT comes from Hindustan Zinc, whose results have already been released and are included in the price.
Vedanta Share Price On Tuesday, the Vedanta share price closed almost stable at ₹742.5. So far this year, the stock has gained 24 percent.
Read More: Vedanta Demerger: Two reasons why Vedanta share price could see significant movement today.
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