Vedanta Share Price Soars After Demerger Announcement

Vedanta share price: Shares of mining giant Vedanta are rocketing after the demerger. Vedanta shares jumped over 4% intra-day on Wednesday and hit a new high of ₹1 on the BSE. Vedanta shares have been rising steadily for three days. The stock rose 17% during this time. Vedanta's business has been demerged. Under the demerger, Vedanta plans to separately list four entities Vedanta Aluminium Metal Ltd, Talwandi Sabo Power Ltd, Malco Energy Ltd and Vedanta Iron and Steel Ltd. In this split, shareholders will get 1 share of each of the four newly listed companies. Vedanta shares are expected to be listed by mid-June or July, Anil Agarwal, an industrialist, said in a letter to shareholders.