# Multibagger Alert! Vedanta Iron and Steel share price soars 113% since listing - More upside ahead? — retained record
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source: [news](https://highsignal.app/data/news) (news:india-mint-markets) published 2026-07-02 05:01 ingested 2026-07-02 08:55
[original source ↗](https://www.livemint.com/market/stock-market-news/multibagger-alert-vedanta-iron-and-steel-share-price-soars-113-since-listing-more-upside-ahead-11782967910054.html)
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Vedanta Group demerger stock Vedanta Iron and Steel shares have turned into a multibagger in less than a month since listing on the bourses. Continuing its dream run on and extending gains for the 12th consecutive trading session, the stock hit the 10% upper circuit and touched a fresh record high of ₹42.64 on the National Stock Exchange (NSE) on Thursday, July 2.
Vedanta Iron & Steel debuted on the stock exchanges on June 15, listing at ₹20 on the NSE and ₹22.25 on the BSE. The company was one of the four businesses demerged from Vedanta Ltd. and listed as an independent entity.
Since its market debut, the stock has rallied more than 113%.
The sharp rally gathered pace after Azim Premji-backed Premji Invest's PI Opportunities AIF V LLP acquired shares worth ₹102 crore shortly after the listing. Through a bulk deal, PI Opportunities AIF V LLP, an investment arm of Premji Invest owned by Indian billionaire businessman and Wipro Chairman Azim Premji, purchased nearly 4.84 crore shares worth ₹101.68 crore at ₹21.02 apiece.
The company also addressed the recent surge in its share price. On Tuesday, it said the stock exchanges had sought clarification regarding the significant movement in the counter.
The company stated, "We confirm that there is no material event, information, or announcement that, in our opinion, requires disclosure under applicable regulations and has not already been disclosed to the Stock Exchanges. Further, the Company is not aware of any specific reason for the movement in the price of its equity shares."
The rally was not limited to Vedanta Iron & Steel, with other demerged Vedanta companies also witnessing strong gains during Thursday's session.
Vedanta Aluminium Metal shares climbed around 4% to an intraday high of ₹469.45.
Vedanta Oil and Gas surged more than 13% to hit a record high of ₹44.05 after the company received an ICRA AA+ (Stable) rating.
Vedanta Power also advanced around 8%, touching its lifetime high of ₹47.78.
Meanwhile, parent company Vedanta Ltd. was trading 1.5% higher at ₹279.80 per share.
With Vedanta Iron & Steel more than doubling since its listing and continuing to hit upper circuits, market participants are closely watching whether the momentum can sustain. Technical analysts believe the stock's overall trend remains positive, but caution that it is approaching an important resistance zone that could trigger profit booking in the near term.
"Currently, VISL is forming a higher high (HH) and higher low (HL) structure on the 1-hour chart, indicating a positive short-term trend. However, the stock is now approaching a key Pivot resistance, as highlighted on the chart, where selling pressure could emerge. While the overall price structure remains constructive, a decisive daily close above ₹39 is essential to confirm a fresh breakout and signal further upside." — Jigar S Patel, Senior Manager - Technical Research Analyst, Anand Rathi Share and Stock Brokers Limited.
Patel said that until the ₹39 level is convincingly surpassed on a daily closing basis, investors should adopt a cautious approach. He advised traders to consider booking partial profits at current levels while retaining the remaining position to participate in any confirmed breakout above the ₹39 resistance.
Vedanta Iron & Steel has operations spanning India and Africa and focuses on iron ore exploration, mining and processing. The company also manufactures high-quality steel, wire rods, TMT bars, pig iron, ductile iron (DI) pipes, ferro-silicon, cement and metallurgical coke.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience.
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