Vedanta Aluminium shares tumble 14% in 3 days since listing. What’s dampening the shine of Vedanta’s new crown jewel?

Vedanta Aluminium shares hit the 5% lower circuit for a third straight session on Wednesday, extending their post-listing decline to 14%. Since debuting at Rs 522 per share on Monday, the stock has shed over Rs 29,000 crore in market value, with its market capitalisation falling from more than Rs 2 lakh crore to around Rs 1.75 lakh crore. The sharp decline comes despite analysts describing the newly listed aluminium business as Vedanta’s “crown jewel.”

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