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Vedanta Aluminium’s market debut has been a mixed bag, with the company’s shares experiencing a significant decline. The sharp drop in aluminium prices after the Iran-US peace deal has impacted Vedanta Aluminium’s share price, which has fallen 14% in three days. However, the company’s strong contribution to group revenues and margins make it an attractive entity.
The Indian stock market witnessed a significant surge, with the Sensex rising over 1,695 points to close at 75,527.95, while the Nifty50 jumped over 461 points to end the session at 23,622.90. Nifty has formed a solid base, repeatedly taking support near the 61.8% Fibonacci retracement level of its previous upmove.
PB Fintech’s founders, Dahiya and Bansal, have sold a significant stake worth Rs 665 crore, with shares trading steadily despite a recent decline. The company’s market capitalisation stands at over Rs 79,398 crore, with a P/E ratio of over 117x.
