Vedanta share price in focus: Shares of mining giant Vedanta maintained their strong upward momentum on Wednesday, January 28, extending gains to the fifth consecutive trading session.
Vedanta share price opened the session higher at ₹711 and went on to hit a fresh record high of ₹741.95, up 5.20% from the previous close. Over the past five sessions, Vedanta shares have gained a cumulative 10.5%.
Apart from the continued rally in industrial metal prices, today’s rally in the Anil Agarwal-led company is also backed by the company’s decision to sell a 1.59% stake in Hindustan Zinc.
Hindustan Zinc OFS details
The company, on Tuesday post-market hours, said its duly authorized Committee of Directors has approved the sale of up to 6,70,00,000 equity shares of Hindustan Zinc through an offer-for-sale (OFS) route.
The floor price for the OFS has been set at ₹₹685 apiece, representing a 6% discount to today’s closing price. Considering the floor price of ₹685 apiece, the proposed transaction is valued at ₹₹4,589.50 crore.
In a separate regulatory filing, the company said that the OFS will open for non-retail investors on January 28 and for retail investors on January 29. The company further informed that the proposed offer is being undertaken for strengthening and deleveraging the balance sheet and for optimization of the capital structure of the company.
Hindustan Zinc is a subsidiary of Vedanta, in which it held a 61.84% stake as of the December quarter, according to Trendlyne data.
The company specializes in the exploration, mining, and smelting of zinc, lead, and other non-ferrous metals. Its products include zinc ore, lead-zinc concentrate, zinc metal, lead metal, cadmium metal, silver metal, and sulfuric acid.
Vedanta share price jumps 22% in early 2026
After delivering bumper 36% returns to shareholders in 2025, Vedanta share price has extended its winning streak into 2026, rallying another 22% in the first 18 trading sessions of the year. The rally has also contributed to a 130% jump over three years and a 351% rally over five years.
Earlier this month, domestic brokerage firm ₹806 per share”>Nuvama Institutional Equities upgraded the target price to ₹806 per share from ₹686 earlier, while maintaining its buy rating on the stock, as the brokerage factored in value unlocking from the ongoing demerger by raising valuation multiples across segments.
Disclaimer: : We advise investors to check with certified experts before making any investment decisions.
