Vedanta Iron And Steel shares snapped a five-session decline on Friday to hit the 5% upper circuit limit, according to reports from Moneycontrol. The stock was locked at its upper circuit limit of ₹34.68 per share on the NSE. The buying momentum extended across other Vedanta group companies, with Vedanta Aluminium Metal up 0.3%, Vedanta Oil & Gas advancing 2%, and Vedanta Power rising more than 1%.
According to the company's first quarterly production update since listing on July 3, VISL reported total pig iron production of 291 KT during the June quarter, representing an 8% increase from 269 KT in the year-ago period and 5% higher than the previous quarter. The company operates iron ore mining, processing and steel manufacturing through Sesa Iron Ore, ESL Steel and Western Cluster Ltd.
Iron ore production from the company's Goa mines rose 166% year-on-year to 0.6 million DMT during the quarter from 0.2 million DMT a year ago, though it was lower than 0.9 million DMT in the preceding quarter. Hot metal production from the Goa plant increased 12% year-on-year and 11% sequentially to 238 KT. However, iron ore production from Karnataka declined 46% year-on-year and 28% sequentially to 0.9 million DMT.
As reported by Moneycontrol, Vedanta Iron and Steel was demerged from Vedanta Ltd during the first quarter of FY27. The company's performance update marks its first quarterly production disclosure since completing the demerger process, providing investors with operational metrics for the newly independent entity in the steel sector.
