M-Cap of Vedanta's split cos jumps 67% to Rs 3.5 lakh crore

The combined market capitalisation of Vedanta's five demerged listed entities—Vedanta Aluminium, Vedanta Power, Vedanta Oil & Gas, Vedanta Iron & Steel, and residual Vedanta—has surged 67% to Rs 3.5 lakh crore since the demerger, indicating investor willingness to pay a premium for pure-play exposure. Vedanta Aluminium is the dominant value driver at nearly Rs 2 lakh crore (over half the total), while the residual Vedanta entity holds about Rs 1.2 lakh crore. Valuation comparisons show Vedanta Iron & Steel trading at a steep discount to Tata Steel and JSW Steel, while Vedanta Oil & Gas sits between ONGC and Oil India on price-to-sales multiples.