Vedanta shares advance 3% on ₹1-trillion Odisha investment plan

Vedanta shares rose 3 per cent after it said it will invest an ₹1 trillion in Odisha, helping create over 1 lakh employment opportunities

Shares of Vedanta rose over 3 per cent on Friday after the group said it will invest an additional ₹1 trillion in Odisha, helping create over 1 lakh employment opportunities. 

 

The mining company's stock rose as much as 3.6 per cent during the day to ₹501.05 per share, the biggest intraday rise since September 12 this year. The Vedanta stock pared gains to trade 2.9 per cent higher at ₹497 apiece, compared to a 0.27 per cent decline in Nifty 50 as of 10:45 AM. 

 

Shares of the company advanced for the fourth straight session. The counter has risen 12 per cent this year, compared to a 9.5 per cent advance in the benchmark Nifty 50. Vedanta has a total market capitalisation of ₹1.9 trillion. 

 

Vedanta to invest ₹1 trn more in Odisha

Mining major will invest an additional ₹1 trillion in Odisha, creating over 100,000 employment opportunities, the Chief Minister’s Office (CMO) said on Thursday. “The plan includes a ₹2,000 crore ultra-modern ferro-alloys plant in Keonjhar and two new aluminium parks — one at Jharsuguda and another at a site identified by the state government,” the CMO said in a post on X.

 

The announcement came after Vedanta Chairman Anil Agarwal presented the investment proposal to Chief Minister Mohan Charan Majhi in Bhubaneswar.

 

Last month, Rajiv Kumar, Chief Executive Officer of Vedanta’s aluminium business, announced that the company is acquiring land for a 3 million tonnes per annum (MTPA) aluminium smelter in Dhenkanal, part of its plan to double capacity from the current 3 MTPA. 

 

In the same month, Vedanta Group firm Ferro Alloys Corporation (FACOR) laid the foundation stone for its ferrochrome plant in Bhadrak, marking another milestone in the company’s industrial expansion in the state.

Vedanta Q1 results recap

The company reported an 11.7 per cent drop in its consolidated net profit to ₹3,185 crore for the June quarter (Q1) of FY26. During the same period last year, the company had reported a net profit of ₹3,606 crore. 

 

Consolidated revenue from operations, however, grew by 6.2 per cent to ₹37,434 crore year-on-year (Y-o-Y) from ₹35,239 crore. Quarter-on-quarter (Q-o-Q) revenue fell 6 per cent from ₹39,789 crore, due to weaker pricing and lower volumes, the company said in its exchange filing on Thursday.

 

The company recorded its highest-ever first-quarter earnings before interest, tax, depreciation and amortisation (Ebitda) at ₹10,746 crore, up 5 per cent Y-o-Y.