Whalesbook
So, Vedanta ek bohot bada move le raha hai. Ye company poori tarah se restructure ho rahi hai aur May 1, 2026 tak ye 5 alag alag listed companies mein split ho jayegi. Iska matlab hai ki Vedanta Aluminium, Vedanta Power, Vedanta Oil & Gas, Vedanta Steel & Iron Ore, aur ek parent company jismein baaki operations hongi, sab alag-alag listed hongi. Ye plan December 2025 mein National Company Law Tribunal ne approve kar diya tha. Matlab, May 1, 2026 tak jinke paas shares honge, unhein har ek existing share ke badle nayi companies mein ek share milega.
Market mein is news kaafi positive response dikha raha hai. Pura saal dekhein toh Vedanta ka share price 90% bhaga hai, aur is saal hi 30% upar gaya hai. Abhi April 22, 2026 ko stock approx ₹770-778 ke aas paas trade ho raha tha. Company ka market cap ₹3 trillion ke paas hai aur Price-to-Earnings (P/E) ratio lagbhag 18.10 hai.
Experts ka kehna hai ki ye split shareholder value unlock karega, kyunki har business apni growth strategy aur valuation khud manage kar payega. Kotak Institutional Equities ne toh 'Buy' rating ke saath target price ₹965 kar diya hai, khaas kar Aluminium aur Power segments mein potential dekh kar. Nuvama bhi commodity prices ki wajah se strong EBITDA growth predict kar raha hai, aur ICICIdirect ko bhi ye demerger value discovery ke liye achha lag raha hai, especially Aluminium business ke liye. FY27 ke total EBITDA ka 85% Aluminium, Zinc aur Silver se aane ka ummeed hai, jo abhi multi-year highs par hain.
Par har coin ke do pehlu hote hain, is demerger mein kuch risks bhi hain. Sabse badi chinta hai ki listing mein der ho sakti hai, jisse nayi companies September index rebalancing cycle miss kar sakti hain. Agar aisa hua, toh Nifty Next 50 jaise indices se passive fund inflows ruk sakte hain, jismein Vedanta ka 5.20% weightage hai. Dusri risk ye hai ki investors shayad 5 alag alag companies ko sahi se value na kar paayein, jisse overall value kam ho sakti hai. Saath hi, har entity ko apna financing manage karna hoga, aur purani debt management issues wapas aa sakte hain, jisse borrowing costs badh sakte hain.
Brokerage firms generally achha upside expect kar rahi hain, targets ₹965 tak ja rahe hain. Listing ke 4-8 weeks baad ye demerged entities market mein aa jayengi, jo ek bada catalyst hoga. Analysts ko lagta hai ki focused businesses like Aluminium aur Power khud hi zyada valuation kama payengi. Short term mein thoda upar neeche ho sakta hai, par long term outlook positive dikh raha hai.