Vedanta shares drop 3% as demerger faces fresh hurdles; SEBI flags ‘serious breach’

Shares of Vedanta Ltd slipped 3 per cent in Wednesday’s trade after reports suggested fresh hurdles to its planned demerger. The setback came as the National Company Law Tribunal (NCLT) postponed the hearing on the company’s restructuring proposal to September 17.

The metals & mining stock fell 2.7 per cent to hit a low of Rs 437.60 on BSE over its previous day’s closing of Rs 450.10 apiece. At 1:51 pm, the scrip was trading 1.72 per cent lower at Rs 442.35.

The National Company Law Tribunal (NCLT) has deferred hearing on Vedanta’s demerger plan after the Centre government raised serious objections, CNBC-TV18 reported. The government alleged concealment of key information, inflated revenues, and hidden liabilities, while also suggesting that Vedanta altered its demerger scheme post receiving the Securities and Exchange Board of India (SEBI) and stock exchange approvals.

CNBC-TV18 reported that SEBI confirmed that Vedanta made changes to its demerger scheme after securing a No-Objection Certificate (NOC), calling it a “serious breach” of the applicable master circular.

Vedanta informed stock exchanges that its wholly owned subsidiary Talwandi Sabo Power Ltd (TSPL), lost a long-running legal battle in the Supreme Court. On August 19, the apex court upheld an Appellate Tribunal for Electricity (APTEL) ruling against TSPL in a case related to entitlement of Foreign Trade Policy (FTP) benefits linked to mega power project status. Vedanta said it is reviewing the judgment and evaluating next legal steps.

Meanwhile, Vedanta on Tuesday informed exchanges that its subsidiary, Bharat Aluminium Company Ltd (BALCO), has received a penalty order of Rs 80.96 lakh from the Income Tax Department for assessment year 2012-13.

The penalty, imposed under Section 271(1)(c) of the Income Tax Act, 1961, follows an assessment order passed under Section 254 read with Section 143(3) of the Act. The order, dated August 18, 2025, was received by BALCO on August 19, Vedanta said in a regulatory filing.

Among technical indicators, the stock is trading lower than its 50-day and 200-day simple moving averages (SMAs), but higher than 10-day, 20-, 30-,100-, and 150-day SMAs.