Vedanta share price rallied 3% on Wednesday, extending gains from for the sixth straight session, ahead of the National Company Law Appellate Tribunal (NCLAT) hearing on the Jaiprakash Associates Limited (JAL) insolvency case later this week. Vedanta shares gained as much as 3.99% to ₹735 apiece on the BSE.
The Delhi bench of the NCLAT will hear Vedanta’s appeal challenging the approval of the resolution plan for JAL on April 10.
The Supreme Court on Monday had declined to stay the implementation of the Adani group’s ₹14,535-crore bid to acquire the debt-ridden JAL, but provided a safeguard by restraining the firm’s monitoring committee from taking any “major policy decisions” without prior nod of the NCLAT.
A bench of…