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The Economic Times

Ritesh Presswala

Vedanta Iron and Steel shares hit 5% upper circuit for fourth straight day, surge 20% since listing

Vedanta Premji Invest Vedanta Iron Steel NSE

Shares of Vedanta Iron & Steel extended their post-listing rally on Thursday, hitting the 5% upper circuit for the fourth straight session. The stock was trading around Rs 24.37, taking its market capitalisation to approximately Rs 9,521 crore. Since debuting on the bourses earlier this week, Vedanta Iron & Steel shares have surged over 20%, driven by strong investor appetite and a high-profile investment from Azim Premji-backed Premji Invest.

The rally gathered momentum after PI Opportunities AIF V LLP, an investment vehicle of Premji Invest, acquired nearly 4.84 crore shares worth Rs 101.68 crore through a bulk deal on Monday. The fund purchased the shares at Rs 21.02 apiece shortly after the company's market debut, signalling confidence in the newly listed entity.

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