Vedanta Iron and Steel shares hit 5% upper circuit for 3rd day, rally 16% since listing

Vedanta Iron & Steel hit the 5% upper circuit for the third straight session, rallying 16% since its Monday listing and adding over Rs 1,255 crore in market capitalisation, which rose to Rs 9,076 crore. In contrast, sister demerged entities Vedanta Aluminium and Vedanta Oil & Gas each hit the 5% lower circuit for the third consecutive day, falling more than 14% from their debut prices, while Vedanta Power declined around 2%. The four companies were created under Vedanta's demerger, with each eligible shareholder receiving one share in each entity for every Vedanta share held as of the May 1 record date.