Shares across the Vedanta Group witnessed active tracking on Monday, October 5, following quarterly operational updates published by multiple listed entities across diverse natural resource verticals. The updates covered physical production figures and volume metrics for the July-September period, offering investors a detailed operational snapshot across metallurgy, power generation, and energy exploration.
Hindustan Zinc Expands Mining and Refined Output
In its regulatory filing submitted to stock exchanges, Hindustan Zinc reported sustained operational momentum during the second quarter of FY27. Mined metal volumes increased by 5 percent year-on-year to touch 271 kilotonnes (KT), up from 258 KT recorded during the corresponding period of the previous fiscal year.
Refined metal production mirrored this growth trajectory, logging a 7 percent year-on-year rise to 264 KT compared to 246 KT in the second quarter of FY26. Reflecting these firm operational numbers, shares of the zinc producer traded higher during morning deals on Monday, advancing approximately 1.68 percent to Rs. 564.35.
Vedanta Power Registers 26 Percent Expansion in Quarterly Sales
Power generation assets under Vedanta Power demonstrated strong commercial dispatch during the September quarter. The utility entity reported a 26 percent year-on-year surge in electricity sales, dispatching 5,593 million units (MU) in the second quarter of FY27 against 4,433 MU in the comparable quarter of the previous financial year.
Cumulatively across the first half of FY27, power sales grew by 32 percent year-on-year to reach 10,817 MU. On the equity bourses, Vedanta Power shares traded with positive momentum during morning hours, hovering 0.58 percent higher at Rs. 32.96.
Record Aluminium Output at Vedanta Aluminium Metal
Vedanta Aluminium Metal clocked an all-time quarterly production high during the July-September quarter. The manufacturing entity produced 649 KT of aluminium in the second quarter of FY27, while aggregate half-yearly output also touched an unprecedented milestone of 1,281 KT. Despite this operational milestone, the stock was trading marginally lower by 0.30 percent at Rs. 401.55 in morning trades.
Institutional brokerage JM Financial assigned a Buy rating on Vedanta Aluminium Metal, setting a target price of Rs. 560 per share. The brokerage highlighted expected benefits from volume expansion, operational cost moderation, and robust free cash generation spanning the upcoming three years, projecting compound growth rates of roughly 21 percent for EBITDA and near 27 percent for earnings across FY26-29E.
Iron and Steel Division Faces Ore Contraction Despite Steel Gains
The operational disclosure from Vedanta Iron and Steel revealed contrasting trends across mining and conversion units. While saleable ore extraction declined by 13 percent year-on-year during the second quarter of FY27, downstream output remained resilient, with finished steel rising 4 percent and hot metal output advancing by 3 percent.
Geographically, extraction from Goa mines expanded by 22 percent year-on-year, supported by operational scale-up and higher beneficiation capabilities. Conversely, mining volumes from Karnataka dropped 49 percent year-on-year, aligning with recalibrated operational targets and updated excavation scheduling. Equity shares of the division drifted lower by 0.45 percent to Rs. 31.03 during morning trade.
Oil and Gas Segment Records Lower Output Post Corporate Demerger
Unlike other resource verticals, Vedanta Oil & Gas recorded reduced output levels in the second quarter of FY27. Average daily gross operated volumes contracted by 19 percent year-on-year to 72.2 thousand barrels of oil equivalent per day (kboepd), down from 89.1 kboepd a year earlier. Daily working-interest volumes fell by 18 percent to 47.8 kboepd, dragging the stock down 0.84 percent to Rs. 31.71.
The current standalone operations reflect the sweeping corporate restructuring executed earlier in the year. The group went ex-demerger on April 30 under a 1:1 entitlement formula across Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil and Gas, and Vedanta Iron and Steel, which subsequently debuted as separate listings on June 15. The residual parent entity retains Zinc India via Hindustan Zinc, Zinc International, Copper, and Ferro Chrome. Trading across these newly independent entities has faced headwind pressures recently, with Vedanta Iron & Steel declining around 18.5 percent and Vedanta Power dropping 12.6 percent over the preceding month.
