Vedanta posts record Q2 earnings as debt falls
Vedanta reported Q2 revenue of ₹25,812 cr, doubled EBITDA to ₹9,938 cr and reduced net debt to ₹3,675 cr. OI Charts data showed the stock rose 3.3% on 28 Oct as futures positioning shifted to short covering.
after close1 source ↓machine-written, see hownot a recommendation
- VEDL close
- ₹233.05
- On the day
- +3.30%
- Futures OI, short covering
- -0.4%
- Put-call ratio
- 0.75
- Max pain
- ₹235.00
Vedanta reported a strong second quarter on 28 Oct 2026, with revenue rising 57% year on year to ₹25,812 cr. EBITDA doubled to ₹9,938 cr, profit after tax reached ₹6,202 cr and net debt fell to ₹3,675 cr. Gamsberg Phase II was commissioned during the quarter, while the company set production and cost guidance for FY27. 📈
The earnings update strengthens the operating and balance-sheet picture for the metals and mining business. EBITDA doubled to ₹9,938 cr points to a sharp improvement in operating earnings, while the lower debt burden provides more financial flexibility as production plans advance. The Gamsberg milestone is relevant for future zinc output, but execution will be assessed through production volumes, unit costs and cash generation against FY27 guidance. ⛏️
The stock’s market reaction improved on the session after the results. OI Charts data for 28 Oct showed the shares closing at ₹233.05, up 3.3%, with volume of 11,721,873 shares. The gain followed a decline of 5.3% over five sessions and 12.9% over 20 sessions. The stock remained close to its recent 52-week low of ₹221.60, recorded on 26 Oct, against a 52-week high of ₹795.00 on 21 Apr.
Derivatives positioning also changed from the previous session. Futures open interest fell 0.4% to 55,775,025 shares, indicating short covering as the price rose, compared with the short build-up seen on 27 Oct. The futures premium narrowed to 0.24% and the put-call ratio stood at 0.75. For the 23 Nov 2026 expiry, max pain was ₹235, the largest call open interest was at ₹250 and the largest put open interest was at ₹230. These levels mark the key positioning zones for the next phase of price discovery, rather than confirmed support or resistance.
The next checks are quarterly cash generation, production delivery, unit costs, debt reduction and progress against FY27 guidance. The earnings update follows a sharp period of weakness, keeping execution central to how the metals sector assesses the improvement. 💼
Source: news.google.com and TradingView, 28 Oct 2026
Not investment advice. For informational purposes only.