Vedanta Oil and Fuel shares leap 14% in 2 days, m-cap swells by Rs 1,600 crore after Q2 outcomes
Vedanta Oil and Fuel shares rose to Rs 31.90 apiece on Monday. The sharp two-day rally got here after the corporate reported a consolidated web revenue of Rs 746 crore for the second quarter of FY27 on Thursday, marking a pointy enchancment from the Rs 91 crore web loss reported within the year-ago interval. Nonetheless, revenue declined from Rs 945 crore within the first quarter of FY27.
The corporate’s income from operations elevated a bit over 6% YoY to Rs 2,488 crore throughout the quarter beneath evaluate, from Rs 2,342 crore within the year-ago interval. EBITDA, in the meantime, jumped 34% YoY to Rs 1,393 crore, which the corporate stated mirrored larger worth realisations and a continued concentrate on value optimisation.
Additionally learn | Q2 outcomes affect: 2 Vedanta shares rally as much as 14% after Sept quarter earnings. How have they carried out since demerger?
Vedanta Oil and Fuel share worth
Vedanta Oil and Fuel, together with Vedanta Aluminium Steel, Vedanta Iron and Metal, and Vedanta Energy, was spun off from mother or father firm Vedanta and listed individually on inventory exchanges in June this yr. Vedanta Oil and Fuel shares listed on the NSE at Rs 38 apiece on June 15, with a market capitalisation of almost Rs 14,860 crore on the time of debut.
The inventory has confronted a pointy downturn since itemizing, falling to a file low of Rs 26.41 apiece final week, almost half its file excessive 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 primary time in almost two weeks and prolonged their beneficial properties on Monday.
The sharp beneficial properties over the previous two periods have added almost Rs 1,580 crore to Vedanta Oil and Fuel’s market capitalisation, taking it past Rs 12,474 crore on Monday morning.Additionally learn | Why is the market rallying immediately?
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