Shares of Anil Agarwal-promoted Vedanta were up 4 per cent at Rs 232.25 on Tuesday's intra-day trade after the company on Friday after market hours announced its plan to demerge its existing business verticals into six independent 'pure play' companies. This move aims to unlock stakeholder value, attract strategic investment, improve competencies, and ensure transparency. In the past two trading days, the stock rallied 12 per cent.
Meanwhile, the stock of Vedanta had hit a 52-week low of Rs 207.85 on Thursday, September 28. Despite a two-day gain, Vedanta has underperformed the market by falling 28 per cent, as compared to 7.6 per cent rise in the S&P BSE Sensex.