Vedanta shares jump 4% as company plans ₹1 lakh crore investment in Odisha; all you need to know

The proposed investment includes a refinery, an aluminium park in Dhenkanal district and a ferro-alloys plant in Keonjhar district, they said.

The plan includes a ₹2,000-crore ferro-alloys plant in Keonjhar and two new aluminium parks—one at Jharsuguda and another at a site identified by the state government, they said. The investment proposal was on Thursday placed before the Odisha government by Vedanta Group Chairman Anil Agarwal, who met Chief Minister Mohan Charan Majhi here. The company has already invested around ₹1 lakh crore in the state.

“In a major boost to #Odisha’s industrial growth, @Vedanta_Group will invest around ₹1 lakh crore in the state, creating over 1 lakh direct and indirect employment opportunities,” the Chief Minister’s Office said in a post on X.

“The state government has assured full support for these investments, including the provision of required land and other infrastructure facilities,” the CMO said.

The ₹2,000-crore ferro-alloys plant will come up in Keonjhar to enhance Odisha’s standing in the global metal value chain, it said.

The company’s aluminium park at Jharsuguda is in an advanced stage of completion, the officials said. “These state-of-the-art parks will produce high-grade aluminium alloys suitable for use in aerospace, electric vehicles, and defence sectors, attracting large-scale downstream investments and significantly boosting the MSME sector in Odisha,” a senior official said.

Chief Minister Mohan Charan Majhi said Odisha is now poised to emerge as a global hub for industry and technology. “This massive investment will be a game-changer for the bright future of Odisha,” he asserted.

The CM said such initiatives will not only accelerate economic growth but also create vast opportunities for the youth and prepare the ground for Odisha to become “a $500-billion economy by 2036”.

Hailing Majhi, Agarwal said, “I congratulate the chief minister for creating an investment-friendly environment in the state, further strengthened by the double-engine growth model. We are proud to be a long-term partner in Odisha’s growth story and are deeply committed to the state’s all-round development.”

Agarwal said the Vedanta Group encourages young students, startup founders and budding entrepreneurs of Odisha to invest in developing innovative applications of aluminium at its industrial parks.

“Vedanta will facilitate access to land, infrastructure, power and raw materials on a not-for-profit basis,” he added.

Other factors

Shares of aluminium companies such as Hindalco Industries, National Aluminium Company Limited (NALCO), and Vedanta were trading with gains on Friday amid a sharp rise in aluminium prices due to supply shortages.

Aluminium prices on the London Metals Exchange (LME) crossed the mark of $2,850 per tonne.

For Vedanta, the aluminium business is a significant contributor to the company's overall profitability. In June 2025, Vedanta’s senior executives said earnings before interest, tax, depreciation, and amortisation (EBITDA) of its aluminium business are expected to double to $4 billion this fiscal year.

Vedanta share price

At 11:45 AM, shares of Vedanta were trading at ₹495.15 apiece on NSE, gaining 2.46%.

Over the past five trading sessions, shares of the company have gained over 4%, while they have climbed 10% in a month. In the last six months, the Vedanta stocks rose nearly 18%. From the beginning of the year, the stock has rallied more than 11%.

Shares of Vedanta hit a 52-week high of ₹526.95 on December 16, 2024, and a 52-week low of ₹363 on April 7, 2025. Its market capitalisation stood at ₹1.95 lakh crore.