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.
Sensex slumps 583 pts, Nifty below 24,000; 7 key triggers
Indian stock markets experienced a significant downturn on Thursday, with Sensex and Nifty both falling over 0.7%. This decline was driven by soaring oil prices,