Vedanta shares adjusted significantly post-demerger, appearing to crash but actually declining 5% as four entities (Aluminium, Power, Oil & Gas, Steel) were separated. This restructuring aims to unlock shareholder value by allowing independent businesses to be valued more fairly. The demerger, approved by NCLT, sees the base metals business remain with a restructured Vedanta, while new entities will list separately.
US stocks today: Nasdaq rallies to sharply higher close; chip surge offsets Iran worries
US markets closed higher led by chip stocks, with Micron boosting sentiment through a massive investment plan tied to AI demand. Gains came despite rising