Business
Vedanta Power to join Nifty 500 from next week
The Hindu BusinessLine··4d ago
Anil Agarwal-led Vedanta Power will enter the Nifty 500 and Nifty Smallcap 250 indices from September 30. Changes take effect after trading closes on September 29. Smallcap 250 inclusion also places the stock in the Nifty MidSmallcap 400 and Nifty Smallcap 500. The demerged company has about 5 GW of operational capacity and targets 12 GW by FY33.
Prism
What It Means For You
- Passive funds that track these Nifty indices may need to hold Vedanta Power after the rebalance.
- Index inclusion alone does not guarantee fresh fund flows or a higher valuation, an analyst said.
- About 85 percent of the company's capacity is backed by long-term domestic coal linkages.
What's Happening
- Vedanta Power was listed after its demerger from Vedanta.
- It expects to add about 600 MW by the end of FY27.
- Biomass co-firing at Talwandi Sabo has crossed 5 percent of fuel consumption.
What the Company Runs
- Assets include Talwandi Sabo, Sakti, Meenakshi Energy and Jharsuguda thermal plants.
- A longer-term ambition of 20 GW was also outlined.
- The company has set a net-zero carbon objective by 2050 or earlier.
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