On July 3, Vedanta’s share price zoomed in early trade as the company initiated a premeditated review of its steel and steel-making raw materials productions.

Vedanta, a subsidiary of Vedanta Resources Limited, is the world’s leading natural resources firm spanning across India, South Africa, and Namibia, with important operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium & Power.

The review will commence instantly and assess a broad range of options to maximise the stakeholder’s value, but not limited to a possible strategic sale of some or all of the above-mentioned steel businesses. The company has involved advisers to assist in this review.

The company will remain to make additional announcements in this linking following its revelation obligations and under applicable laws and regulations.
On June 22, the company had designated as wrong, baseless, and incorrect news reports that Vedanta Limited was selling the Sterlite Copper Plant in Thoothukudi.

Sterlite Copper contributed to 40% of India’s copper. As the country has become a net importer of copper, which has unfavourably impacted inter‐alia the downstream and supplementary industries, there has been an increasing demand for Vedanta‐Sterlite Copper to restart its operations.

At 9:41 am, Vedanta was trading at Rs 279.00, up Rs 0.95, or 0.34% on the BSE.