Shares of Vedanta Oil and Gas (VOGL) and Vedanta Iron and Steel (VIS) experienced a decline in their inaugural trading sessions on the stock market today. Both entities, newly separated from the metal and mining conglomerate Vedanta, commenced trading with initial losses.
Vedanta Oil and Gas shares opened 5% lower at Rs 37.05 on the BSE. The company's market capitalization stood at Rs 14,487 crore following its debut. On the National Stock Exchange (NSE), VOGL also saw a 5% slip, trading at Rs 36.10, with its market cap on NSE recorded at Rs 14,116 crore.
Similarly, Vedanta Iron and Steel shares faced a downturn, slipping 5.39% to Rs 21.05 in opening deals on the BSE. This performance brought the market capitalization of the Vedanta Group firm to Rs 8,231 crore on the exchange.
These listings are part of a broader strategic move by Vedanta to demerge its operations into distinct entities. Besides VOGL and VIS, two other newly created firms—Vedanta Aluminium Metal (VAML) and Vedanta Power—also made their debut on both the BSE and NSE today, marking a significant restructuring for the conglomerate.