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Vedanta Aluminium shares tumble 14% in 3 days since listing. What’s dampening the shine of Vedanta’s new crown jewel?

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Vedanta Aluminium shares tumble 14% in 3 days since listing. What’s dampening the shine of Vedanta’s new crown jewel?
Shares of Vedanta Aluminium Metal tumbled 5% again to hit the lower circuit for the third consecutive session, falling 14% in just three days since listing and wiping off over Rs 29,000 crore from the market capitalisation of what analysts called the new “crown jewel” of Vedanta.

Vedanta Aluminium Metal shares remained locked in the lower circuit at Rs 447.56 apiece on Wednesday. The shares debuted at Rs 522 apiece on NSE on Monday after a special pre-open session. The largecap company’s market capitalisation at debut stood at more than Rs 2 lakh crore, surpassing parent Vedanta’s total market capitalisation. Its market cap has now fallen to Rs 1.75 lakh crore.


Also read:
Vedanta Aluminium lists at Rs 527 on BSE after demerger

Is Vedanta Aluminium the new ‘crown jewel’ of Vedanta?

Before the market debut, ICICI Direct said that Vedanta Aluminium stood out as the most attractive entity. “This is supported by its strong contribution to group revenues and margins, along with favourable industry dynamics such as tight global supply, elevated aluminium prices, and ongoing capacity expansions driving volume growth,” it added.

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ICICI Securities was also the most bullish on the aluminium business, saying the Iran-US conflict could result in a larger-than-expected aluminium supply deficit. It called Vedanta Aluminium, the group’s new “crown jewel”.

Also read:
Why Vedanta’s aluminium business is the undisputed crown jewel of the mega 4-way demerger

Vedanta Aluminium Metal is the largest aluminium producer in India, as well as in the US, Europe, the Middle East, Australia and Africa, according to the company. It produced more than half of India’s aluminium at 2.42 million tonnes in FY25, its website said. It operates a 5 MTPA alumina refinery in Odisha’s Kalahandi district, along with the world’s largest aluminium plant at Jharsuguda, Odisha, with a 1.85 MTPA capacity. It also operates Bharat Aluminium Company Limited (BALCO) in Chhattisgarh.


ICRA recently removed the long-term rating of Vedanta Aluminium Limited (VAML) from “watch with developing implications,” following greater clarity on the allocation of assets and liabilities under Vedanta Limited’s ongoing demerger scheme, as well as the support framework across group entities. ICRA also upgraded the rating and assigned a stable outlook to the long-term rating.

Also read:
Vedanta Aluminium vs Vedanta Power; Which can give investors better wealth in Rs 2 lakh crore demerger play

Why are Vedanta Aluminium shares falling?

The sharp drop in Vedanta Aluminium’s share price comes amid falling aluminium prices after Iran and US agreed to a peace deal. US President Donald Trump announced on Sunday that the much-awaited agreement has been finalised, following which global stock markets rallied, with Dalal Street being no exception.
Aluminium producers from the Middle East typically account for nearly 9% of global supply, and the suppliers use the narrow 33-kilometre waterway connecting the Persian Gulf with the Gulf of Oman to ship their metal to global markets and import raw materials. The reopening of the Strait of Hormuz may lead to further downturn in aluminium prices, which can bear an impact on the Indian aluminium producers.

How are the other newly-listed Vedanta stocks performing?

The shares of Vedanta Iron and Steel jumped 5% to hit the upper circuit for the third consecutive session on Wednesday, rallying over 16% since listing. Vedanta Power shares have fallen around 2% from its listing price, while those of Vedanta Oil and Gas hit the 5% lower circuit for the third straight session, falling over 14% since market debut.
Also read: Vedanta demerger unlocks 20% value; Aluminium arm becomes most valuable

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(With inputs from agencies)

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

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Northland reiterates Ambarella stock rating on AI workload shift

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Cramlington’s Tennick Accountants merges to create larger firm

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The compliance, payroll and financial planning specialists have merged with Kinder Accountants

Tennick Accountants was set up in 2012.

Team members from Tennick and Kinder Accountants at Tennick Accountants’ Cramlington office.(Image: Krysztof Furgala)

Cramlington’s Tennick Accountants has merged with a Hereford-based counterpart in a move that doubles the size of the business.

Tennick has joined forces with Kinder Accountants to create a 14-strong team across the North East and Herefordshire sites. The deal is said to mark an important stage in Tennick’s growth, and is part of an ambition to become a larger and better firm.

It was founded by Graeme Tennick in 2012, having worked for PwC and in public sector previously. The company has grown to become a national award winner having scooped both the Xero Small Firm of the Year Award and Accountancy Excellence’s Grand Prix Award for National Small Firm of the Year. Mr Tennick says his firm has been built to help business owners go beyond compliance and use their numbers to create more time, money and freedom.

Meanwhile, Kinder Accountants was founded by Sharon Baker in 2005 and is a digital accountancy firm which has also won awards. The firm takes its name from Ms Baker’s grandmother’s maiden name.

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Mr Tennick, founder and chief impact officer at Tennick Accountants, said: “Bringing Kinder Accountants into the Tennick Accountants family is a hugely exciting moment for us. From our earliest conversations with Sharon, it was clear that Kinder shared our values, our approach and our commitment to clients, our teams and the communities around us.

“This gives us the opportunity to strengthen the support we offer, invest further in our people and create even more positive impact for the businesses we work with. For us, growth has never just been about size. It is about being better, creating more opportunities and helping more people improve their lives inside and outside of work.”

Sharon Baker, founder of Kinder Accountants, said: “Joining the Tennick Accountants family is a positive and exciting next chapter for Kinder Accountants, our clients and our team. From the beginning, it was clear that Graeme and the Tennick team shared our values and our commitment to putting people first.

“Kinder Accountants will continue to be Kinder Accountants, with the same care, support and personal service our clients know and trust, now backed by the strength, expertise and energy of a wider team.”

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Mr Tennick added: “We are proud of what both firms have achieved so far, and even more excited about what we can now achieve together.”

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EU opened diplomatic channels with Kremlin in recent weeks, Costa says

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Form 13F AMS Capital Ltda For: 17 June

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Target, Walmart and Amazon losing LGBTQ+ consumer spending

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Target, Walmart and Amazon losing LGBTQ+ consumer spending

LGBTQ+ consumers are shifting their brand loyalties based on companies’ diversity, equity and inclusion policies, according to new research from the Human Rights Campaign Foundation.

The findings released Wednesday found that nearly 72% of LGBTQ+ consumers say they buy fewer products from companies they perceive as “reducing diversity and inclusion commitments.” Nearly 70% also said they have refused purchases from those businesses at least some of the time.

The five companies those respondents most frequently linked to reduced spending were Target, Walmart, Amazon, Chick-Fil-A and Home Depot.

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On the other hand, HRC’s survey found nearly 70% of LGBTQ+ consumers are also rewarding companies they view as supportive of diversity and inclusion. Costco, Apple, Ben & Jerry’s, Delta Air Lines and Kroger were the five companies most frequently cited as recipients of higher spending.

“Consumers aren’t asking the brand to be perfect they’re asking them to be transparent and clear on where they stand,” said Human Rights Campaign spokesman Jonathan Lovitz.

“There is a gap to close between perception and what you’re doing inside,” he added.

HRC’s survey comes as a growing number of companies have scaled back diversity initiatives, modified public-facing DEI programs or ended participation in the organization’s annual Corporate Equality Index. Earlier this year, HRC reported a sharp decline in participation in the index, a benchmark that has long measured workplace policies and benefits for LGBTQ+ employees. Participation among Fortune 500 companies fell 65% from 377 companies in 2025 to 131 in 2026.

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The National LGBT Chamber of Commerce estimates LGBTQ+ consumers represent more than $1.7 trillion to the U.S. economy.

In response to the survey, Amazon told CNBC it is fostering opportunities for employees and serving a diverse customer base.

“We’ve continued to support our employees with opportunities that allow them to grow, thrive, and connect internally and in their communities,” said a company spokesperson.

The other companies mentioned in the survey did not immediately comment.

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A customer walks by a Pride Month merchandise display at a Target store on May 31, 2023 in San Francisco, California. 

Justin Sullivan | Getty Images News | Getty Images

U.S. shoppers have increasingly mobilized for or against companies based on their DEI policies. Target, for instance, has faced consumer backlash from both sides of the political spectrum over its approach and was the most cited company among survey respondents who said they reduced their spending.

Self-identified Republicans reduced spending at Target during the summer of 2023 following controversy surrounding the retailer’s Pride Month merchandise display, according to spending data from Consumer Edge. In early 2025, spending among self-identified Democrats also declined after the company rolled back several DEI initiatives.

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In the company’s most recent quarter, however, the retailer reported its first positive same-store sales number in five quarters.

Target also continues to maintain some publicly visible LGBTQ+ partnerships, including serving as a platinum sponsor of NYC Pride’s 2026 celebration.

Costco was the most frequently cited company among consumers who said they increased their spending, according to the HRC survey. The retailer has remained one of the more vocal corporate defenders of diversity initiatives, and earlier this year shareholders overwhelmingly voted against a proposal that would have required the company to evaluate risks associated with its diversity, equity and inclusion programs.

“Companies who have the longest run of trust with customers in the [LGBTQ+] community is they didn’t change anything about what they were doing but remained consistent,” said Lovitz.

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Consumer Edge data showed Costco posted the strongest year-over-year spending growth among self-identified Democratic consumers in the months following that vote.

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Reddit Theories Proliferate in Nancy Guthrie Disappearance as Search for Savannah’s Mother Enters Fifth Month

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US woman Denyse Holt always shared her daily Wordle score, so when she missed a day, her daughter immediately knew something was wrong

TUCSON, Ariz. — Speculation continues to swirl online about the disappearance of Nancy Guthrie, the 84-year-old mother of “Today” show co-host Savannah Guthrie, more than four months after she vanished from her home in the Catalina Foothills area near Tucson.

No arrests have been made and no suspect has been publicly identified in what authorities describe as an active investigation involving possible abduction. Pima County Sheriff Chris Nanos has emphasized the painstaking nature of processing evidence, particularly DNA analysis from the scene.

Guthrie was last seen around 9:45 p.m. on Jan. 31, 2026. She was reported missing the following day. Security footage reportedly captured images of a masked individual approaching the home that night, adding to the mystery surrounding the case.

Online Speculation and Reddit Discussions

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As the case has stretched into June, Reddit threads and other social media platforms have become hubs for amateur analysis and unverified theories. A popular discussion titled along the lines of “What do you think happened to Nancy Guthrie?” features users weighing possible motives and perpetrators.

One contributor suggested the incident involved someone familiar with the family, such as “an acquaintance, stalker, or prior employee (housekeeper, gardener, etc.) who got in too deep.” Others pointed to Google search data showing queries for Guthrie’s address and Savannah Guthrie’s salary from an Arizona-based user weeks before the disappearance.

Forensic details shared publicly, including reports of blood spatter at the residence, have fueled additional conjecture. Some posters theorize a botched robbery or ransom attempt that turned fatal, while others speculate on connections to Savannah Guthrie’s professional work, including interviews with Epstein case survivors.

Authorities have not confirmed or commented on these specific online claims. Sheriff Nanos has noted that the investigation relies heavily on laboratory results and digital evidence analysis, processes that follow strict scientific protocols and cannot be rushed.

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Recent Search Efforts in Mexico

Volunteers conducted searches in Mexico in June following an anonymous tip that Guthrie’s remains might be located near the Arizona border. The Buscando Corazones collective in Nogales, Sonora, responded to information suggesting a possible burial site in a stream area near the Mariposa Port of Entry.

The group, known for locating unmarked graves in the region, found no evidence linking to Guthrie despite thorough efforts. Pima County Sheriff’s Department officials later stated they had not been contacted by Mexican authorities regarding any developments tied to the case.

The sheriff’s office addressed circulating online information in an official statement: “At this time, we have not been contacted by Mexican authorities. This investigation remains active and ongoing, and we will continue to follow up on any credible information.”

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Investigation Challenges and Updates

Sheriff Nanos has described the probe as “tedious” due to the need for thorough lab work. At the 100-day mark in May, officials indicated that scientific evidence processing and digital media analysis were continuing. Family members, including Savannah Guthrie, have offered a substantial reward for information leading to her mother’s recovery.

Savannah Guthrie has spoken publicly about the emotional toll, returning to work while maintaining hope. In early June, she shared messages emphasizing her commitment to never stopping the search. The family was cleared early on of involvement, according to authorities.

Forensic genealogy and other advanced techniques are reportedly underway. Challenges include separating multiple DNA profiles from the home and analyzing surveillance and digital footprints. The case has drawn comparisons to other high-profile missing persons investigations but stands out due to the victim’s connection to a prominent journalist.

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Community and Media Attention

The disappearance has captured widespread attention, with yellow flowers and notes accumulating at the family home as a makeshift memorial. Volunteers and online sleuths have inserted themselves into the story, sometimes leading to tensions with law enforcement. Recent arrests of individuals accused of disrupting the neighborhood highlight ongoing sensitivities around the crime scene.

Experts and former investigators have offered public commentary on potential next steps, stressing the importance of following all leads without premature dismissal. The prolonged timeline has tested community patience, yet officials maintain that steady progress is being made behind the scenes.

Nancy Guthrie’s daily medication for a heart condition was reportedly left behind, raising concerns about her well-being if she remains alive. The family has leaned on faith and public appeals to keep attention focused on finding answers.

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Broader Context of Missing Persons Cases

Guthrie’s case is one of thousands of missing persons reports in the United States annually. Her situation highlights the unique challenges when the victim is elderly and the circumstances suggest foul play without clear motive or immediate leads.

Pima County authorities continue coordinating with federal partners, though decisions on the extent of involvement rest with local leadership. FBI Director Kash Patel noted in interviews that assistance was offered early but uptake depends on local protocols.

As summer progresses, the investigation enters a phase where digital analysis, witness statements and potential new tips become critical. The $1 million family reward remains active, underscoring the urgency for resolution.

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Public interest shows no signs of waning, with true crime enthusiasts and concerned citizens monitoring developments closely. Reddit and other forums serve as outlets for discussion, though officials caution against misinformation that could hinder the official probe.

The emotional weight on the Guthrie family remains profound. Savannah Guthrie’s return to broadcasting while advocating for her mother’s case has drawn admiration from viewers and colleagues. Her messages emphasize resilience and the power of community support in the face of uncertainty.

Law enforcement urges anyone with credible information to contact the Pima County Sheriff’s Department directly. As the search crosses the five-month threshold, hope persists alongside the grim reality that many such cases evolve slowly toward answers.

The community in Tucson and beyond continues to hold vigils and share information in the hope of bringing Nancy Guthrie home or achieving closure. The case serves as a stark reminder of vulnerabilities even in seemingly secure neighborhoods and the far-reaching impact of high-profile disappearances.

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Prebiotic fiber brand joins Ingredion portfolio

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BeniCaros, made from upcycled carrot pomace, stimulates beneficial bacteria.

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Luigi Mangione seeks ‘extreme emotional disturbance’ defense in CEO killing case

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