Shares of the company were listed at Rs 20 apiece on NSE on June 15, as four new Vedanta companies debuted on the stock market to conclude what was one of the biggest corporate restructurings in India’s metals and mining space. The company’s market capitalisation at the time of debut stood at Rs 7,821 crore.

While analysts screamed ‘Buy’ on Vedanta Aluminium shares after the debut, the smallcap counter of Vedanta Iron and Steel quietly began to surge. The sharp rally in Vedanta Iron and Steel shares intensified after Azim Premji-backed Premji Invest’s PI Opportunities AIF V LLP bought shares worth Rs 102 crore after the stock’s market debut. PI Opportunities AIF V LLP, an investment arm of Premji Invest, which is owned by Indian billionaire businessman and Wipro Chairman Azim Premji, bought nearly 4.84 crore shares worth Rs 101.68 crore at Rs 21.02 apiece through a bulk deal.

Also read: Vedanta Iron & Steel shares list at Rs 22 on BSE as mega demerger concludes

Vedanta Iron and Steel shares hit the 5% upper circuit in nine out of its first 10 sessions on Dalal Street. The stock hit the 10% upper circuit for the second consecutive session today to trade at Rs 42.65 apiece on NSE.

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This marks a whopping 113% surge from its listing price in just 13 sessions since market debut. The company’s market capitalisation has also more than doubled to Rs 16,677.81 crore.
Also read: Vedanta demerger unlocks 20% value; Aluminium arm becomes most valuable

About Vedanta Iron and Steel

Vedanta Iron and Steel has operations spanning India and Africa, and is focused on iron ore exploration, mining and processing. It also produces high-quality steel, wire rods, TMT bars, pig iron, ductile iron (DI) pipes, ferro-silicon, cement and metallurgical coke.The company on Tuesday said that stock exchanges have asked to clarify any reason for the significant price movement seen in the counter. The company responded by saying that there is no material event, information, or announcement in this regard.

How are the other demerged Vedanta stocks performing?

Vedanta Aluminium Metal shares jumped 4% today, but have declined nearly 10% since listing. Vedanta Oil and Gas shares meanwhile jumped nearly 11%, extending sharp gains after the firm received ICRA AA+ (Stable) rating.

Vedanta Power shares, meanwhile, jumped over 5% today.

Also read: Vedanta Aluminium vs Power vs Oil & Gas vs Iron & Steel | Which stock should you buy?

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The North East Chamber of Commerce has published the findings of its latest quarterly economic survey

There are encouraging signs for North East businesses with rising sales and hiring intentions, research from a top regional group suggests.

Firms were questioned as part of the established North East Chamber of Commerce’s quarterly economic survey (QES), which pointed to improvements in sales, recruitment and investment in workers. But despite the confidence markers, the Q2 research also showed firms were wary of increased energy costs, wider inflation and weaker profit forecasts.

Business activity was shown to have broadly strengthened with increases in UK sales, UK orders and exporting, while the proportion of firms operating at full capacity also increased. Training investment plans rose strong, up 13.2%, but plant investment declined by 7.6% Profitability expectations were also weakened.

The survey conducted between May 11 and June 8 found future workforce expectations rose sharply, with recruitment across all types of roles. However recruitment challenges increased across all categories but particularly semi and unskilled and clerical roles. Workforce levels also improved slightly on the previous quarter, but remained below Q2 2025 levels.

Deborah Walton, president at the North East Chamber of Commerce, said: “This quarter’s results highlight growing confidence among North East businesses, with significant improvements in sales activity, recruitment intentions and investment in workforce development. Businesses are clearly looking ahead, with future workforce plans reaching their highest level for some time and training investment increasing strongly compared with both last quarter and a year ago.”

Less favourable were concerns about price pressures, which increased across most indicators but most notably fuel, up 23.4%, raw materials, up 18.5%, and utilities, up 9.9%. Researchers said that despite the growth, most cost pressures remained lower than a year ago as labour, finance and other overheads showed annual declines.

Concern about energy prices rose significantly over the quarter, with 58.1% of businesses saying it was an issue. More than half of firms reported taking action to reduce energy costs through efficiency measures and reduced energy usage.

Meanwhile worries around business rates, crime and taxation eased, while concerns about energy prices, inflation and exchange rates all increased.

Rhiannon Bearne, deputy CEO at North East Chamber of Commerce, said: “As businesses and communities face further change on the national political stage, stable policy, investment in infrastructure and support for competitiveness will be critical to sustaining this cautious momentum. The North East Chamber of Commerce will continue to champion the needs of North East businesses and ensure their experiences help shape policy not just regionally but, through our strong partnership with the British Chambers of Commerce, nationally as well.”

Occupiers IMA said buying the freehold gives them the flexibility to evolve the space

Creative agency IMA has acquired The Malthouse building in a £4m deal.

The global firm has taken freehold ownership of the refurbished 18th century former maltings having acquired it from the administrators of former landlords Leaseco 23 Limited, which collapsed last year. The building, which sits opposite Leeds Dock, provides more than 24,000 sqft of office accommodation, with Leeds city centre and train station only minutes away.

IMA have been based at the Malthouse since 2020, after moving from their location in Headingley, where the company was based for more than 30 years. The Leeds office is one of six, with additional bases in London, Amsterdam, Sydney, New York and Manchester.

Avison Young acted for IMA, which Cushman & Wakefield acted for the seller. The deal is described as reflecting the ongoing momentum of Leeds’s creative and digital industries.

A spokesperson for IMA said: “Leeds Dock has become a real hub for creative and growing industries, and it’s been an inspiring place for us to call home over the past few years. Our workspace plays a big role in shaping how we collaborate and support our clients, so having the opportunity to make it our own is incredibly important.

“Acquiring The Malthouse gives us the flexibility to evolve the space alongside our business and create an environment that truly reflects who we are. The process has been smooth throughout, and we’ve really valued the expertise and support from the Avison Young team.”

Leaseco 23 – formerly known as Leeds Dock Limited – owned 24 ground-floor commercial units at Leeds Dock, and was linked to two buildings there. The property-owning company’s finances deteriorated following the departure of a key anchor tenant in January 2024, leading to a big fall in rental income.

Despite the efforts of directors to refinance, administrators at Interpath were called in and appointed in mid December, 2025. A statement of affairs showed a total estimated deficit of more than £12m.

This article was written by

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