Multibagger Alert! Vedanta Iron and Steel share price soars 113% since listing - More upside ahead?

Vedanta Iron & Steel shares surged 113% from their listing price of ₹20 on June 15, hitting a record high of ₹42.64 on the NSE with a 10% upper circuit on July 2. The rally was fueled by Premji Invest acquiring 4.84 crore shares worth about ₹102 crore through a bulk deal at ₹21.02 apiece shortly after listing. Other demerged Vedanta entities — Aluminium Metal, Oil and Gas, and Power — also posted strong gains, while technical analysts flagged ₹39 as a key resistance level to watch.