Vedanta stock zooms 28% in 1 month; market cap nears ₹3 trillion

Vedanta's market cap hit ₹2.97 trillion in intra-day trade on Thursday; the stock has skyrocketed by 72 per cent in the last six months.

Vedanta share price today

 

Share price of Vedanta extended its up move, hitting a new high of ₹759.30 on the BSE in Thursday’s intra-day trade in an otherwise tepid market. In comparison, the BSE Sensex was down 0.17 per cent at 82,206 at 12:32 PM.

 

The stock price of the metal company was quoting higher for the sixth straight day, soaring 13 per cent during the period. In the past one month, Vedanta’s market price has zoomed 28 per cent. Further, in the past six months, it has skyrocketed 72 per cent, as against 1 per cent rise in the BSE Sensex.

Vedanta’s market capitalisation nears ₹3 trillion

 

A sharp rise in the stock price of Vedanta has seen the market capitalisation (market cap) of the company inch towards ₹3 trillion. Vedanta’s market cap hit ₹2.97 trillion in intra-day trade today, and was 1 per cent shy from achieving the ₹3 trillion milestone.

 

Currently, there are 27 companies with market cap in excess of ₹3 trillion. Among the metal pack, Hindustan Zinc and JSW Steel have a market cap of ₹3 trillion each.  ALSO READ | SBI Cards Q3: Spends hold up as credit costs ease; analysts' views divided

Why was Vedanta stock in demand?

 

Vedanta has a diverse portfolio of assets comprising Indian and global companies involved in metals and minerals, such as zinc, silver, lead, aluminium, copper, nickel, oil and gas.

 

In the past two trading days, the stock price of Vedanta appreciated by 8 per cent after the company’s board proposed to sell up to 67 million equity shares representing up to 1.59 per cent of equity in Hindustan Zinc via an offer for sale (OFS) at the floor price of ₹685 per share. The OFS is worth ~₹4,600 crore. The issue opened on January 28, 2026 for non-retail investors and on January 29, 2026 for retail investors. The objective for the offer is being slated as to strengthen and deleverage the balance sheet and optimization of the capital structure of the Vedanta.

 

According to ICICI Securities, this comes as a surprise as balance sheet leverage at Vedanta is controlled at ~1.4x Net Debt/EBITDA (September 2025) with target of achieving ~1x by FY27, supported by healthy organic growth across aluminium and zinc. 

 

Vedanta is also expected to generate healthy cash in the near term, as it will benefit from the recent uptick in base metal prices,  especially aluminium. The promoter stake post the announced OFS in Hindustan Zinc will decline from 61.84 per cent to 60.25 per cent. If the OFS proceeds are used to retire debt at Vedanta’s parent entity, this can potentially result in dividend announcement by the company in the near term, the brokerage firm said in a note.  ALSO READ | ABB India shares spike 10% after global parent reports Q4 earnings 

Meanwhile, analysts at Systematix Shares and Stocks (India) in the Q3FY26 result preview said that Vedanta is slated for a strong quarter led by higher volumes and base metal prices from top contributing segments. Performance of aluminum, zinc, and power segments would help offset weaker performance of the oil and gas segment. Key things to monitor – demerger updates, expansion plans, and commissioning timeline, the brokerage firm said.

 

ICRA said Vedanta is expected to report operating profit before interest, taxes, depreciation, and amortization (OPBITDA) of ₹48,500-49,000 crore in FY2026 on expectation of higher profitability amid an uptick in key commodity prices like zinc and aluminium, along with a reduction in the cost of production as benefits from the ongoing backward integration in the aluminium segment begin to materialise. Record-high silver prices are expected to further support profitability in the current fiscal.  ==========================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.