Three Vedanta Group shares gain up to 13%, rebound from recent lows on strong volumes

Shares of Vedanta Power Ltd., Vedanta Oil & Gas Ltd.,

and Vedanta Iron & Steel Ltd. gained up to 11% on Wednesday, rebounding from their recent lows.

Shares of Vedanta Power gained up to 12% on Wednesday, while those of Vedanta Oil & Gas and Vedanta Iron & Steel gained up to 7% and 5% respectively. The gains were also backed by strong volumes.

This is the fourth straight day of gains for Vedanta Oil & Gas, while Vedanta Power has snapped a five-day losing streak, to register its biggest single-day gain since its stock market debut after the demerger. This is only the second instance of Vedanta Power's shares gaining 10% or more in a single session.

Vedanta Iron & Steel shares have snapped a two-day losing streak as well with this 5% advance. The stock has already seen 1.75 crore shares change hands by 10:30 AM, compared to its 20-day average volume of 95 lakh shares.

Shares of Vedanta Power have seen 3.5 crore shares traded so far, well above their 20-day average of just over 42 lakh shares. Vedanta Oil & Gas has also seen 2.1 crore shares change hands, which is triple the 20-day average volume of 70 lakh shares at this time of the day.

Vedanta Aluminium, Vedanta Iron & Steel and Vedanta Power are three of the four demerged entities from the Vedanta Group, which listed on the bourses earlier this year, after the demerger process from the parent Vedanta Ltd. was completed. Vedanta Aluminium is the fourth stock in this list, has the highest amount of analyst coverage, and is said to be the highest value creator for the parent company as well.

However, Vedanta Iron & Steel, Vedanta Power and Vedanta Oil & Gas do not have any analyst coverage so far. Most of these stocks were trading at their post-listing lows. Even Vedanta Aluminium shares are down over 30% from their post-listing high of ₹537.

Shares of Vedanta Power, Vedanta Iron & Steel, and Vedanta Oil & Gas are among the top 10 gainers on the Nifty 500 index on Wednesday. With the exception of Vedanta Iron & Steel, the other two buzzing stocks of the Vedanta Group, Oil & Gas, and Power, are trading below the price at which they began trading on the bourses after their demerger.