Vedanta Power to Vedanta Aluminium Metal: Which Vedanta demerger stock offers the best risk-reward?

Vedanta's long-awaited demerger has split the conglomerate into five separately listed entities covering Aluminium, Oil and Gas, Power, Iron and Steel, alongside residual Vedanta Ltd. Share analyst Mayank Jain views Vedanta Aluminium Metal as the strongest structural growth story, positioning it as a direct play on EV adoption, grid expansion and green-energy infrastructure. Vedanta Oil and Gas is flagged as a crude-price sensitive upstream play, Vedanta Power as a defensive utility-style option, and Vedanta Iron and Steel as a cyclical bet on infrastructure demand, while the residual Vedanta Ltd is anchored by its stake in Hindustan Zinc.