Vedanta Limited shares climbed 1.56 per cent to ₹754.10 on the NSE on Tuesday morning, recovering from a low of ₹728.70, as investors returned to the counter ahead of a critical corporate event. The stock had hit a 52-week high of ₹795 on April 21 following the announcement of its demerger record date but has since pulled back over 3 per cent from that peak.

The rebound comes a day before the April 30 special pre-open price-discovery session, when Vedanta will trade ex-demerger. On that date, the share price will mechanically drop as the value of four spun-off entities is stripped out — investors should not interpret this as a loss. Once the demerged companies list separately, portfolio valuations are expected to normalise.

The recent weakness ahead of the ex-date, according to Khushi Mistry, Research Analyst at Bonanza, was driven by profit-booking after an 81 per cent one-year rally, with traders also unwinding positions ahead of F&O contract expiry on April 29. Passive fund adjustments added to the churn — the four demerged entities will initially enter Nifty Next 50 as dummy constituents, and if listings slip beyond June, they could miss the September index rebalance, deferring fresh passive inflows.

At current levels, Vedanta trades at a P/E of 17.52 with a free-float market cap of ₹1.28 lakh crore. Delivery volume stands at a healthy 62.93 per cent of traded quantity, suggesting conviction buying rather than purely speculative activity. Total traded value crossed ₹1,641 crore by mid-morning.

Vedanta will split into five separately listed entities — Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron & Steel, and the residual Vedanta Limited — with shareholders receiving shares in all four demerged businesses in a 1:1 ratio.

April 29 is the last date to buy Vedanta shares and qualify for demerger benefits under T+1 settlement rules, as April 30 is the ex-date and buyers on or after that date will not be eligible. On April 30, Vedanta will hold a Special Pre-Open Session from 9.15 AM to 9.45 AM for ex-demerger price discovery, with normal trading resuming at 10 AM.

All existing Vedanta futures and options contracts expire on April 29, with new contracts starting April 30 — adding to positioning activity ahead of the cutoff.

Risks remain post-demerger. Debt distribution across the five entities, the London-based promoter holding company’s reliance on dividend streams now spread thinner, and commodity price volatility are key variables to watch. AMFI categorisation of new entities could push to January 2027 if listing timelines slip. Record date is May 1, 2026.

Published on April 28, 2026