Vedanta Oil and Gas shares jump 14% in 2 days, m-cap swells by Rs
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Vedanta Oil and Gas shares jumped 6% on Monday after rallying 8.5% in the previous session, adding nearly Rs 1,600 crore to its market capitalisation. The gains followed a strong Q2 performance, with the company reporting a net profit of Rs 746 crore against a loss of Rs 91 crore a year ago, despite a sequential decline.
Shares of Vedanta Oil and Gas extended their gains on Monday, jumping another 6% after rallying 8.5% in the previous session. The gains followed the company's Q2 results, which boosted investor sentiment and added nearly Rs 1,600 crore to its market capitalisation.Vedanta Oil and Gas shares rose to Rs 31.90 apiece on Monday. The sharp two-day rally came after the company reported a consolidated net profit of Rs 746 crore for the second quarter of FY27 on Thursday, marking a sharp improvement from the Rs 91 crore net loss reported in the year-ago period. However, profit declined from Rs 945 crore in the first quarter of FY27.
The company's revenue from operations increased a little over 6% YoY to Rs 2,488 crore during the quarter under review, from Rs 2,342 crore in the year-ago period. EBITDA, meanwhile, jumped 34% YoY to Rs 1,393 crore, which the company said reflected higher price realisations and a continued focus on cost optimisation.
Also read | Q2 results impact: 2 Vedanta stocks rally up to 14% after Sept quarter earnings. How have they performed since demerger?
Vedanta Oil and Gas share price
Vedanta Oil and Gas, along with Vedanta Aluminium Metal, Vedanta Iron and Steel, and Vedanta Power, was spun off from parent company Vedanta and listed separately on stock exchanges in June this year. Vedanta Oil and Gas shares listed on the NSE at Rs 38 apiece on June 15, with a market capitalisation of nearly Rs 14,860 crore at the time of debut.Live Events
The stock has faced a sharp downturn since listing, falling to a record low of Rs 26.41 apiece last week, nearly half its record high of Rs 47.60 apiece, which it hit in early July. Following the Q2 earnings announcement, the shares crossed the Rs 30 mark on Friday for the first time in nearly two weeks and extended their gains on Monday.
The sharp gains over the past two sessions have added nearly Rs 1,580 crore to Vedanta Oil and Gas's market capitalisation, taking it beyond Rs 12,474 crore on Monday morning.
Also read | Why is the market rallying today?
Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
