Vedanta shares surged 1.1% to ₹269 on Monday, August 17, 2026, following the company's announcement regarding the successful bid for the Punnam Manganese Block in Andhra Pradesh. The positive momentum was driven by higher metal prices in the global market and the company's latest order win in the state. According to CNBC TV18, Vedanta shares had previously declined 1.33% to ₹267.50 following the initial announcement, but the latest trading session showed strong recovery. The Nifty 50 index fell 0.12% to 24,366.00 on Friday, but Monday's session demonstrated renewed investor confidence in the company's strategic acquisition.
According to reports from CNBC TV18, PTI, and DSIJ, Vedanta has been declared the successful bidder for the Punnam Manganese Block in Andhra Pradesh after fulfilling required statutory compliances. The company received the letter confirming the successful bid on August 13, 2026, at 2:46 pm IST. The 152-hectare block was awarded through an e-auction run by the Department of Mines and Geology, Government of Andhra Pradesh. The asset is currently at the G4 stage of exploration, representing an early-stage development opportunity for the mining giant. As per PTI, the block is currently at the initial phase of mineral exploration focusing on geological broad-scale surveys to identify potential mineral, making it a strategic acquisition for future development.
As reported by CNBC TV18, PTI, and DSIJ, Vedanta stated that the acquisition will further strengthen its diversified metals and mining portfolio while supporting India's growing manganese requirements. The company emphasized that the development will enhance domestic resource availability and reduce dependence on imports for critical industrial inputs. According to DSIJ, the acquisition of the manganese block is expected to contribute to India's growing manganese requirements by enhancing domestic resource availability and reducing dependence on imports. Manganese ore is a key input for producing ferro-manganese and silico-manganese alloys, which are essential for imparting strength and toughness to steel, making this acquisition particularly strategic for India's steel production capabilities. This strategic move aligns with India's broader objective to strengthen domestic supplies of key minerals and reduce reliance on imports for critical industrial inputs.
According to CNBC TV18, Vedanta Iron & Steel shares surged 5% to hit their upper price band of ₹38.71 on Monday's session, compared to ₹36.87 at the previous close. The positive momentum was attributed to the Punnam Manganese Block acquisition, which benefits the demerged entity as manganese is a hard metal used to make steel stronger. Other Vedanta Group stocks also showed strong performance, with Vedanta Oil & Gas gaining 3.4% to ₹37.72 and Hindustan Zinc rising 2.5% to ₹570. The Vedanta Group stocks today showed mixed performance with Vedanta Aluminium declining 0.45% to ₹441 and Vedanta Power falling 1.2% to ₹36.50. The overall group performance reflects investor optimism about the manganese block acquisition and its strategic implications for the company's diversified portfolio.
