If Your Dad Invested ₹10,000 In Vedanta A Decade Ago, Here's How Much You'd Have Today

Vedanta has had a tough year at the bourses, but in the past few weeks, the mining giant has generated quite a lot of buzz. As the company looks to demerge its businesses to handle its debt, investors have been giving the conglomerate a keen look.

The Investment: Imagine this: On October 4, 2013, your dad decided to invest ₹10,000 in Vedanta. He buys 145.55 shares at ₹68.7 each. Fast forward to the same date in 2023, and those shares are now trading at around ₹230.75. That initial investment has now grown to ₹33,586.5, a whopping increase of 235.87%!

The Background: The announcement of the demerger seems to have induced some hope in investors regarding the debt-laden conglomerate. Prior to the correction today, the stock had jumped around 10% in the past two sessions since the announcements.

See Also: Why This SBI Fund-Backed Small Cap Stock Is Surging 7 Today

The new proposal outlines the establishment of five new publicly traded companies: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, and Vedanta Base Metals, in addition to the existing entity, Vedanta Ltd. Anil Agarwal has also announced the company’s intention to complete a steel asset sale within this fiscal year.

Media reports also suggest that the Anil Agarwal-led company is on the brink of raising $3 billion (around ₹24,000 crore) from big players like JP Morgan and Standard Chartered. The funds are believed to assist the company in preventing a potential default on its forthcoming payments.

Price Action: Vedanta’s share price was down 3.38% to trade at ₹222.95 in the mid-market hours of trading on Wednesday.

Read Next: Amazon Steps Up Challenge To Elon Musks Starlink In India Eyes Licence For Project Kuiper

Note: Data from Yahoo Finance. Adjusted for splits and dividend and/or capital gain distributions.

Engineered by Benzinga Neuro, Edited by Utkarsh Roshan

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesEducationMarketsGeneralVedanta