Vedanta Group stocks showed mixed performance on Friday, September 4, with Vedanta Ltd gaining 1.24% to ₹273.85 while Vedanta Power declined 0.26% to ₹34.20 per unit on the NSE. Vedanta Iron and Steel was down 1.61% at ₹35.49, and Vedanta Oil and Gas traded 0.85% higher at ₹37.86. According to latest reports, Vedanta Aluminium Metal shares were trading in negative territory, down 0.30% at ₹434.55 on the NSE. The sell-off is attributed to a reassessment in Federal Reserve policy, with Andrew Lilley, chief rates strategist for Barrenjoey Investment Bank, stating that "I believe the Fed will hike in September, and that it is the beginning of a three-rate cycle minimum."
Zinc prices have reached a four-year high amid growing supply concerns, creating a positive backdrop for Vedanta's zinc operations. According to market reports, the surge in zinc prices reflects tightening global supply conditions and increased industrial demand. This development aligns with Vedanta Chairman Anil Agarwal's ambitious growth roadmap unveiled at the company's 61st Annual General Meeting, where he announced plans to nearly treble zinc and lead production to 3 million tonnes by 2031. The chairman also revealed that ferrochrome capacity would be ramped up to 5 lakh tonnes by FY28 and nickel output increased to 60,000 tonnes.
Data for the past five sessions (August 31 to September 4) reveal varied performance across Vedanta Group companies. Hindustan Zinc emerged as the top gainer, gaining 1.22% over the period, while Vedanta shares slipped 1.30% during the same window. Vedanta Power declined 5.76%, and Vedanta Oil and Gas shed over 5% during the five-day period. Vedanta Iron And Steel shares fell 7.4% in the five-day period, and Vedanta Aluminium Metal declined around 1%. This performance pattern indicates selective investor interest across different business segments within the Vedanta Group.
According to reports from The Economic Times, Vedanta Aluminium would double its capacity to 60 lakh tonnes per year within three years and aims to operate at the lowest cost globally. Vedanta Oil & Gas will target production of 5 lakh barrels per day and invest five billion dollars over the next three to five years to achieve the goal. Vedanta Iron & Steel will expand capacity from four million tonnes to 15 million tonnes annually with an emphasis on green and specialty steel. Vedanta Power has a roadmap to expand to 20,000 MW and will also enter nuclear power, with the company's future built on three Ps - Produce More, Partner Better and Purpose Beyond Profit.
On the operational front, Vedanta Oil and Gas announced a strategic partnership with Beicip-Franlab India to accelerate exploration, resource maturation and production growth in the Northeast. The integrated seismic and subsurface programme will cover 9 Open Acreage Licensing Programme blocks and one Discovered Small Field block, bringing exploration, resource evaluation and development planning under a single technical framework. Meanwhile, Vedanta Iron and Steel received an order from the Regional Provident Fund Commissioner, Goa, levying a surcharge of ₹28.46 lakh for FY 2022-23 and 2023-24 towards deviations from notified investment patterns. The company stated it has a good case on merits against the order and is examining legal remedies, with no material impact expected on business operations.
