Vedanta is set to undergo a significant restructuring from May 2026, with the company being divided into five separate entities. According to The Economic Times, the main Vedanta entity will trade independently from Thursday, excluding the four newly demerged businesses. Shareholders will receive one share in each of the four new companies for every Vedanta share they hold. The remaining demerged firms are expected to be listed on exchanges within 1-2 months after the record date. As reported by Mirae Asset Sharekhan, Vedanta's stock price is likely to trade around ₹300-₹325 per share on April 30, 2026, following the demerger completion.
Indian stock markets demonstrated mixed momentum on April 29, 2026, with the BSE 100 index edging higher by 0.6% amid selective buying and defensive positioning. According to latest market data, Vedanta emerged as the standout performer, delivering a robust 4.61% return, while Power Finance Corporation struggled, posting a decline of 3.49%. The advance-decline ratio of 56 advancing stocks to 44 decliners, translating to a 1.27x ratio, underscores a market environment marked by selective buying and defensive positioning. The BSE 100 large-cap index has shown resilience over the past week, registering a modest gain of 0.09% in the last five trading sessions, reflecting steady but cautious investor interest in blue-chip stocks.
Brokerages and global research houses issued mixed stock calls today, with selective upgrades across financials, cement, and pharma sectors. According to reports from ET Now, key BUY recommendations were seen in names like Indian Bank, Bajaj Finance, UltraTech Cement, and Mankind Pharma, while Vedanta and Federal Bank saw neutral to mixed stances. CEAT and Bajaj Finance also faced selective SELL or REDUCE calls from some analysts. Overall sentiment remains stock-specific, with focus on earnings visibility and valuation comfort driving calls rather than broad market direction. Recent technical upgrades across several large-cap stocks have contributed to measured optimism in the segment.
Motilal Oswal maintains a Neutral rating with a target price of ₹800, while Emkay maintains a Buy rating with a higher target of ₹900. As reported by ET Now, this creates a ₹100 difference in target prices between the two brokerages. The stock's impressive 4.61% gain on April 29 was driven by renewed investor confidence in the metals and mining sector, buoyed by expectations of improved commodity prices and operational efficiencies. Vedanta's recent upgrades in technical scores and positive sentiment have further reinforced its appeal among institutional investors, with the stock trading at ₹773.6 with an 11.6% gain indicating strong investor interest. Following the demerger, analysts expect the stock to trade in the ₹300-325 range, reflecting the restructured entity's valuation.
Indian Bank received consistent BUY ratings from both Motilal Oswal and Emkay, with target prices of ₹1,025 and ₹1,000 respectively. According to ET Now, Federal Bank saw Motilal Oswal maintaining a Buy rating with a target of ₹325, while Morgan Stanley assigned an Equal-weight rating with a target of ₹260. The banking sector recommendations reflect positive sentiment toward established financial institutions with strong fundamentals. Defensive names such as Sun Pharma Industries have seen a positive shift in outlook, with the stock's rating upgraded from Hold to Buy, signalling growing confidence in its stable earnings and resilient demand. Banking heavyweights like Axis Bank and SBI have moved from bullish to mildly bullish stances, reflecting optimism tempered by macroeconomic uncertainties.
Market breadth remained relatively balanced with 2,051 stocks witnessing advances, 2,180 seeing declines while 171 remained unchanged out of 4,402 stocks that traded on BSE on April 29. As reported by The Economic Times, 152 stocks hit their 52-week highs including Aarti Industries, Adani Energy Solutions, Adani Green Energy, Bandhan Bank, BHEL, Coal India, and Cupid, while 30 stocks slipped to their 52-week lows. Among the stocks showing buying interest were GRSE, Canara HSBC Life, Star Health and Allied Insurance Company, CEAT, Vedanta, Sapphire Foods India, and Abans Enterprises. However, Power Finance Corporation's underperformance reflects concerns over rising credit costs and regulatory uncertainties impacting the non-banking financial sector. The market's cautious tone was also evident in the divergent performances between defensive and cyclical sectors, with investors favoring stocks exhibiting stable earnings prospects and defensive characteristics.
