India's Vedanta heads for biggest rise in 4 years on metal prices, clarity on Jaiprakash bid

Adani Enterprises

04/05/2026 10:22

** Shares of Vedanta VDAN.NS climb 7.7% to 292.6 rupees, highest intraday pct rise since Sept 2022

** An Indian appeals court rejected Vedanta's challenge to Adani Group's winning bid for bankrupt real estate giant Jaiprakash Associates JAIA.NS

** "The tribunal’s ruling brings clarity and removes uncertainty around the Jaiprakash Associates bid," Deven Choksey, managing director at DRChoksey FinServ said

** Adds, stock move is also supported by rising metal commodity prices

** The metals-to-oil conglomerate posted a 92.3% jump in quarterly profit last week, helped by strong base metal prices that boosted margins

** Co's shares have risen 5.4% since results

** In April, Vedanta approved its split into four separate listed companies, effective May 1, which will begin trading in mid-June

** Stock rated as "Buy" on average by 13 analysts; median PT at 855 rupees as per data compiled by LSEG

** More than 71.8 million shares change hands vs 30 day avg of 20.6 million shares

** YTD, shares up 29.3%

 (Reporting by Mridula Kumar and Surbhi Misra in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))