Vedanta demerger, May 29 -- In a major relief for Anil Agarwal's Vedanta Limited, the National Company Law Appellate Tribunal (NCLAT) has granted an interim stay on an earlier order passed by the National Company Law Tribunal (NCLT) rejecting the mining major's demerger scheme.

Following the announcement by the company, Vedanta share price witnessed a relief rally, rising over 1% from its day's low in an otherwise weak market.

Vedanta stock jumped to the day's high of Rs.450.90, a rise of 1.32% from the day's low of Rs.445. As of 1 pm, the mining company's stock was 0.94% higher at Rs.450.85.

The NCLT had dismissed a demerger scheme filed by Talwandi Sabo Power Ltd (TSPL) at an initial stage in a setback for the five-way spinoff of its...