Vedanta Power, Oil & Gas shares fall 3%; Vedanta Aluminium, Iron & Steel jump up to 5%. What lies ahead?

Shares of Vedanta's demerged entities traded mixed, with Vedanta Iron and Steel jumping nearly 5% to around Rs 29.3 and Vedanta Aluminium rising about 3% to around Rs 468, while Vedanta Power fell 3% to Rs 42.88 and Vedanta Oil & Gas declined 2.5% to Rs 32.46. Since listing last week, Vedanta Oil & Gas is down about 15% while Vedanta Iron & Steel has surged 47% from its issue price. Brokerages including CLSA, Citi, and Kotak have initiated bullish coverage on Vedanta Aluminium with targets of Rs 540 to Rs 600, citing strong global aluminium demand and cost curve advantages.