Vedanta Limited (VEDL) is back in the spotlight on Wednesday, December 24, 2025, as the stock trades near fresh highs amid a potent mix of catalysts: the NCLT-cleared demerger, a red-hot precious-metals cycle led by silver, and renewed optimism around the group’s deleveraging trajectory. As of the latest available market snapshots this morning, Vedanta was up roughly ~2% and traded around the ₹597–₹599 zone, with the day’s range cited near ₹587–₹599. [1]
That price action isn’t happening in a vacuum. Over the past week, broker notes and market commentary have framed Vedanta as a classic “event + cycle” story: value-unlocking via restructuring, plus earnings leverage to aluminium, zinc, and (indirectly) silver through Hindustan Zinc. [2]
What’s moving Vedanta stock on 24 December 2025?
1) Silver is ripping, and Vedanta has a front-row seat via Hindustan Zinc
Silver’s rally has turned into one of 2025’s defining commodity narratives. Reuters reported spot silver hitting the $70/oz area this week amid strong industrial/investment demand, tight inventories and rate-cut expectations. [3]
In India, Mint reported MCX silver March contracts touching a fresh record near ₹2,23,742 per kg on Dec 24. [4]
Why does that matter to Vedanta shareholders? Because Hindustan Zinc (HZL)—a Vedanta group company—has seen silver become a much bigger earnings contributor. Mint cited HZL’s September 2025 quarter where silver contributed a meaningful share of profits, helping drive sentiment across the metal complex. [5]
Vedanta chairman Anil Agarwal also leaned into the theme on Dec 24, arguing that silver is both “precious” and “functional” due to technology-driven demand (solar, defence and other applications). [6]
2) The demerger got a major regulatory green light—and markets love “clean stories”
The bigger structural catalyst remains the five-way demerger. Reuters confirmed that India’s National Company Law Tribunal (NCLT) approved Vedanta’s plan to split into five separately listed companies, with completion targeted by March 31, 2026. [7]
Post-restructuring, Vedanta is expected to operate as the base metals arm, while the other entities include Vedanta Aluminium, Talwandi Sabo Power, Vedanta Steel and Iron, and Malco Energy. [8]
A crucial detail for investors: Agarwal said shareholders should receive one share in each demerged entity for every one Vedanta share held (a 1:1 entitlement per resulting company). [9]
Markets tend to reward demergers when they plausibly:
- reduce “conglomerate discount” (one stock, many unrelated businesses),
- create clearer valuation comparables (“pure-play” multiples),
- and force sharper capital allocation discipline.
That’s the bull thesis in a nutshell—and it’s dominating the tape.
3) Derivatives positioning: the ₹600 level is the psychological magnet
With the stock hovering just under ₹600, derivatives traders are clearly circling that round number. MarketsMojo reported that on Dec 24, Vedanta’s ₹600 strike call options (expiring Dec 30, 2025) were among the most actively traded, pointing to continued bullish positioning into near-term expiry. [10]
Treat this as sentiment, not prophecy—options flows can reverse quickly—but it helps explain why ₹600 has become a market-wide fixation today.
Vedanta demerger: what it means for investors—and what happens next
Vedanta first floated the split in 2023, but the process faced government pushback earlier on concerns around recovery of dues. Reuters notes that shareholders and lenders approved the plan in February 2025, and the NCLT nod now accelerates the timeline toward FY26-end completion. [11]
From a stock-market perspective, the key “next steps” investors typically watch after NCLT clearance include:
- updated timelines and procedural milestones (record date, listing dates),
- how debt is distributed across the new entities,
- and whether each resulting company’s dividend/capex posture remains credible.
On that last point, Agarwal has publicly insisted dividends remain core to the group’s identity—more on that below. [12]
Analyst forecasts and targets: Kotak at ₹650, Emkay at ₹625, consensus more cautious
Vedanta’s rally has pulled broker research back into the conversation, and December has delivered fresh upgrades/targets.
Kotak Institutional Equities: upgrade to “Buy”, target ₹650
Moneycontrol reported Kotak upgrading Vedanta to “Buy” from “Add” and raising the target price to ₹650, citing the demerger progress and commissioning pipeline in aluminium and power. The note also referenced expectations of strong multi-year earnings growth (with EBITDA and EPS growth forecasts over FY25–FY28). [13]
Emkay Global: “Buy”, target ₹625, silver leverage underappreciated
Business Standard reported Emkay maintaining a “Buy” rating with a ₹625 target, arguing that silver exposure and cost advantages at Hindustan Zinc could drive earnings upgrades. The report cited Emkay’s view of meaningful upside to FY27 EBITDA estimates versus consensus at current spot prices. [14]
Moneycontrol’s broker note echoed the same thrust: HZL contributes a large share of consolidated EBITDA, and Emkay highlighted sensitivity to silver prices as a near-term narrative tailwind. [15]
The “consensus” picture: roughly ₹575–₹583 average targets, implying limited upside after the run
Not everyone is chasing the stock at any price. Target aggregators show a more tempered view after the rally:
- Trendlyne’s consensus snapshot showed an average target around ₹582.6, indicating mild downside/limited upside versus recent prices. [16]
- Mint’s market page also reflected a broadly positive analyst mix (no sell ratings listed in that snapshot), but the key takeaway is that a lot of optimism is already priced in near ₹600. [17]
The practical interpretation: brokerage bulls see value-unlocking plus commodity strength, while consensus trackers suggest the stock is no longer “cheap on sentiment” after a sharp move.
Dividends: still a big part of the Vedanta equity story
Vedanta’s dividend history is not a side quest—it’s practically the main storyline for many shareholders.
In a Business Standard interview after the demerger approval, Agarwal said: “Dividend is in my blood,” adding that dividend payouts would continue across the companies. [18]
On declared payouts, Business Standard reported FY26 (so far) includes:
- a ₹7/share first interim dividend (totaling ₹2,737 crore), and
- a ₹16/share second interim dividend (totaling ₹6,256 crore). [19]
Company-linked material around the second interim dividend also referenced the ₹16/share payout and total outlay of ₹6,256 crore. [20]
For the stock, dividends matter in two ways:
- they support “carry” (cash returns while investors wait for demerger milestones), and
- they influence how markets think about debt, because Vedanta’s capital allocation has historically been scrutinized through a “dividends vs deleveraging” lens.
Debt and credit: why the parent company’s funding news still matters for VEDL
Even though Vedanta Limited is the listed Indian entity, investor confidence is strongly linked to the broader group’s refinancing risk.
The Economic Times reported that Vedanta Resources (the parent) has been in discussions for a $500 million loan to refinance high-cost debt, with part of proceeds potentially directed toward capex at Konkola Copper Mines in Zambia. The report also described material reductions in gross debt since 2022 and efforts to extend maturity profiles. [21]
Separately, a Vedanta Resources press release dated Dec 8, 2025 stated Moody’s and S&P Global revised their outlooks to Positive, while reaffirming ratings, pointing to improved cost structure, integration, and progress on deleveraging; it also highlighted refinancing actions that reduced funding costs and improved maturity visibility. [22]
This matters for Vedanta stock because markets typically reward lower perceived “group risk”—especially when a company is simultaneously pitching a demerger meant to create cleaner, more financeable businesses.
Risks investors are weighing right now
Vedanta’s setup is exciting—but it’s not a one-way escalator. Here are the big risks that keep showing up in credible coverage:
1) Demerger execution risk (timelines, approvals, debt allocation)
NCLT approval is huge, but the market will watch whether the demerger proceeds smoothly toward the targeted FY26-end completion and how financials are apportioned across the resulting companies. [23]
2) Commodity volatility (especially after parabolic moves)
Silver has been spectacular, but big runs can mean sharper pullbacks. Reuters has repeatedly emphasized silver’s powerful momentum and macro drivers—also a reminder that macro can flip. [24]
3) Legal and regulatory overhangs (copper plant and broader ESG scrutiny)
Times of India reported the Madras High Court is set to hear Vedanta’s petition related to an expert committee for a proposed “green copper” facility at the Sterlite site in Tuticorin, alongside pending litigation. [25]
4) Reputation/claims risk around historical dividend funding
Reuters reported in September 2025 that Singapore police were reviewing a complaint by short seller Viceroy Research related to allegations about dividend funding; Vedanta called the allegations baseless. [26]
None of these automatically break the bull case—but they explain why the market can swing between “value-unlocking superstar” and “please show me the paperwork.”
Technical levels: where traders may focus next
With the stock hovering just under ₹600, short-term levels naturally matter more to traders than to long-term investors. ICICI Direct’s published technical snapshot (as indexed in its page preview) listed a pivot near ₹578.83 with resistance levels building up toward the high-₹590s zone, and support in the mid-₹570s area. [27]
Combine that with the reported ₹600 call-option activity, and you get today’s market psychology in one sentence: ₹600 is the battlefield. [28]
The bottom line for Vedanta stock on 24 Dec 2025
Vedanta’s December momentum is being driven by three forces moving in sync:
- Demerger clarity after the NCLT nod, with a stated target of completion by March 31, 2026 and 1:1 entitlements across the resulting entities. [29]
- A commodity tailwind, with silver at record levels and renewed enthusiasm around metal-cycle earnings leverage. [30]
- A gradual shift in perception around group refinancing risk, helped by reported refinancing plans and positive outlook commentary from rating agencies. [31]
The interesting part now is that the narrative has progressed from “will they get approval?” to “how cleanly can they execute—and what will each pure-play be worth?” That’s where Vedanta stock is likely to stay pinned for the next quarter: part commodity proxy, part corporate-structure referendum, and part dividend machine with a complicated backstory.
References
1. www.livemint.com, 2. www.moneycontrol.com, 3. www.reuters.com, 4. www.livemint.com, 5. www.livemint.com, 6. www.livemint.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.business-standard.com, 10. www.marketsmojo.com, 11. www.reuters.com, 12. www.business-standard.com, 13. www.moneycontrol.com, 14. www.business-standard.com, 15. www.moneycontrol.com, 16. trendlyne.com, 17. www.livemint.com, 18. www.business-standard.com, 19. www.business-standard.com, 20. www.vedantalimited.com, 21. m.economictimes.com, 22. www.vedantaresources.com, 23. www.reuters.com, 24. www.reuters.com, 25. timesofindia.indiatimes.com, 26. www.reuters.com, 27. www.icicidirect.com, 28. www.marketsmojo.com, 29. www.reuters.com, 30. www.reuters.com, 31. m.economictimes.com
