New Delhi, March 18 -- Shares of metal and mining major Vedanta gained over 3% in trade on Tuesday, March 18, after Chairman Anil Agarwal projected strong growth potential for its demerged entities.

Agarwal in a letter to the shareholders said that each of the four newly-demerged companies has the potential to grow into a $100 billion company, emphasizing that today the world is all about pure-play businesses.

"I envision that each of the four newly demerged companies has the potential to grow into a $100 billion company. If you look at where we are headed as a global economy and the demand for such products, these companies and their products are the need of the hour," Agarwal said.

He also added that each of the demerged entities has...