Shares of Vedanta Iron and Steel surged as much as 10% to hit an intraday high of ₹38.78 apiece on the NSE on Wednesday, July 1.
Considering the day’s high and the stock’s listing price of ₹20 per share on June 15, the shares of the Vedanta demerged entity have gained 93.9% since their market debut.
At the time of reporting, the stock was locked in the 10% upper circuit limit of ₹38.78 on the NSE.
The four newly carved-out Vedanta entities, Vedanta Power, Vedanta Aluminium, Vedanta Oil and Gas, and Vedanta Iron and Steel, completed their mandatory 10-day Trade-to-Trade (T2T) settlement period and exited the segment on June 30.
The four demerged companies made their stock market debut on June 15, 2026, following the demerger of Vedanta Ltd.
Following the sharp movement in its share price, Vedanta Iron and Steel received a clarification request from the BSE after market hours on Tuesday. The exchange sought details on the significant price movement to ensure investors had access to relevant information and that market interests were protected.
What the company said
In its response to the BSE on July 1, Vedanta Iron and Steel said it has made all disclosures required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company said there was no material event, information or announcement that, in its view, required disclosure under applicable regulations and had not already been disclosed to the stock exchanges.
It added that the company was not aware of any specific reason behind the movement in its share price.
About Vedanta Iron and Steel
Vedanta Iron and Steel Ltd. (VISL) is an integrated iron and steel company with operations spanning iron ore mining, processing and steel manufacturing. The company brings together businesses including Sesa Iron Ore, ESL Steel Ltd. and Western Cluster Ltd. under a single entity.
VISL has operations in India and Africa and is engaged in iron ore exploration, mining and processing in India and West Africa. Its product portfolio includes steel, wire rods, TMT bars, pig iron, ductile iron (DI) pipes, ferro-silicon, cement and metallurgical coke.
The company’s mining operations date back to 1954, when iron ore mining commenced in Goa. It subsequently expanded its presence to Karnataka and Odisha and diversified into pig iron and metallurgical coke production during the early 1990s. In 1997, the company became the first iron ore mining company in India to receive the ISO 14001 environmental management certification. It has also developed an in-house process for manufacturing metallurgical coke.
According to the company’s website, VISL, through the fully owned subsidiary ESL Steel Ltd , produces 1.5 million tonnes of steel per year (MTPA) at its greenfield integrated steel plant at Bokaro, which was established in 2006 and was acquired by Vedanta Ltd in 2018.