Vedanta Shares Jump 4% as NCLAT Set to Hear JAL Plea

Shares of Vedanta Limited climbed over 4% on 7 April after the Supreme Court directed the National Company Law Appellate Tribunal to hear the company’s appeal in the Jaiprakash Associates Limited insolvency case on an expedited basis. The move comes ahead of a key hearing scheduled later this week.

Set for 10 April, the Delhi bench of the NCLAT will hear Vedanta’s appeal against the approved resolution plan for Jaiprakash Associates. Earlier, the Supreme Court declined to stay a rival Rs 14,535 crore acquisition bid but directed that no major policy decisions be taken without prior NCLAT approval.

Vedanta maintains it had submitted the higher offer, with its resolution plan pegged at Rs 17,926 crore, which the firm says could deliver around Rs 3,400 crore more in recovery for creditors. The company also stated its proposal ranked higher on a net present value basis in its submissions.

In its filings, the mining major urged that the monitoring committee overseeing JAL should not be disbanded until pending issues are adjudicated by the tribunal. The NCLAT has been asked to hear both petitions out of turn.

On the financial front, the company reported record Q3 FY26 revenue of Rs 45,899 crore, rising 19 per cent year-on-year, along with its highest quarterly EBITDA of Rs 15,171 crore. This marked a 34 per cent increase for the period.

Over the past year, Vedanta shares have risen sharply from around Rs 363.00 in April 2025 to a 52-week peak of Rs 769.80 on 29 January 2026. The stock has since eased from those levels.

At 3:58 pm, shares closed by 3.37 per cent at Rs 713.55 on NSE, while the stock touched Rs 718.95 intraday on BSE. It’s trading near session highs.

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