Last Updated on June 2, 2026 5:42 pm by BIZNAMA NEWS
AMN / BIZ DESK
Shares of Anil Agarwal owned mining giant Vedanta Limited lost over 4% from the day’s high on Tuesday, 2 June, after reports emerged that the Enforcement Directorate (ED) had conducted searches at premises linked to the group as part of an investigation under the Foreign Exchange Management Act (FEMA).
The development weighed on investor sentiment, causing Vedanta’s stock to retreat sharply from its intraday high despite opening the session on a positive note. The stock fell as much as 4.4% from the day’s peak of ₹343.50 to touch an intraday low of ₹328.30 on the BSE. It was also down more than 2% compared to its previous closing price of ₹337.25.
Market activity in the counter surged significantly following the reports. By around midday, more than 22.7 lakh shares had changed hands, substantially higher than the two-week average trading volume of about 14 lakh shares, indicating heightened investor interest and caution.
Vedanta supremo Anil Agarwal
ED Conducts Searches Across Multiple Locations
According to agency reports, the Enforcement Directorate launched searches on Monday at locations associated with the Vedanta Group. Officials said premises in Delhi, Rajasthan and several other locations were covered during the operation. The investigation is reportedly being carried out under FEMA provisions.
A spokesperson for Vedanta confirmed the searches and stated that the company was fully cooperating with authorities.
“The company is extending full cooperation to the authorities and is providing all information sought. Vedanta remains committed to compliance with all applicable laws and regulations,” the spokesperson said, adding that no further comments could be made while the matter remains under regulatory review.
Credit Rating Upgrade Provides Positive Backdrop
The regulatory action comes just days after the Vedanta Group announced a major credit-rating milestone. Rating agency ICRA upgraded the long-term ratings of key Vedanta group entities to AA, the company’s highest domestic credit rating in more than a decade.
An AA rating indicates a high degree of safety regarding the timely servicing of financial obligations and reflects very low credit risk.
Long-Term Investors Still Sitting on Strong Gains
Despite Tuesday’s decline, Vedanta remains one of the stronger-performing large-cap stocks in the market. The recently demerged company has generated substantial returns for shareholders, gaining around 53% so far in 2026 and nearly 71% over the past six months.
Over a longer horizon, the stock has delivered multibagger returns, rising approximately 112% in the last year, 233% over five years and an impressive 761% during the past decade.
Analysts said investors will closely monitor developments related to the ED investigation, as well as the company’s ongoing business restructuring and debt-management efforts, which have remained key drivers of market sentiment toward the Anil Agarwal-led group.