Vedanta Limited

NSE: VEDL · Metals & Mining · Lot size: 1150

Vedanta Limited Share Price & Analysis

262.5Updated 22 Jul 2026, 03:30 pm IST
LTP
262.5
Open
264.85
High
266.15
Low
260.95
Close
₹264.85
52W High
₹361
52W Low
₹152
Volume
6971K
Lot Size
1150
Sector
Metals & Mining
Market Cap
₹99K Cr
Face Value
₹1
Large CapNIFTY 100NIFTY 200NIFTY 500NEXT 50

Price Chart

Fundamentals

P/E
5.71
Sector P/E
31.6
P/B
2.07
EPS
₹36.25
ROE
38.2%
ROCE
16.1%
D/E Ratio
0.66
Div Yield
17.2%
Book Value
₹127
+

Strengths

  • Excellent return on equity (ROE 38.2%)
  • Efficient capital deployment (ROCE 16.1%)
  • Attractively valued vs sector (P/E 5.7x vs industry 31.6x)
  • Regular dividends — yield 17.2%

Peer Comparison

CompanyCMPMkt CapP/EP/BROE %ROCE %D/E
ADANIENT
Adani Enterprises Limited
3,148
₹4.3L Cr1205.02-3.385.82.03
JSWSTEEL
JSW Steel Limited
1,264
₹3.0L Cr25.13.0910.2111.22
TATASTEEL
Tata Steel Limited
186
₹2.3L Cr20.52.2711.712.51.01
HINDZINC
Hindustan Zinc Limited
535
₹2.2L Cr15.99.9876.669.50.39
HINDALCO
Hindalco Industries Limited
950
₹2.1L Cr12.61.561313.20.56
LLOYDSME
Lloyds Metals And Energy Limited
1,936
+1.49%
₹1.1L Cr28.27.3936.627.31.45
JINDALSTEL
JINDAL STEEL LIMITED
1,048
₹1.0L Cr25.92.18.229.70.39

Showing 7 peers in the same sector · Sorted by market cap

Shareholding Pattern

VEDL · as of Mar 2026

Promoters56.38%
FII11.15%0.87
DII16.38%0.89
Public15.89%0.03
Govt0.07%
Others0.13%0.02
CategoryDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters63.71%61.95%59.31%56.38%56.38%56.38%
FII7.74%8.77%10.23%11.45%12.02%11.15%
DII11.19%13.15%14.78%16.29%15.49%16.38%
Public17.23%15.86%15.41%15.64%15.92%15.89%
Govt0.07%0.07%0.07%0.07%0.07%0.07%
Others0.06%0.18%0.18%0.16%0.11%0.13%

Corporate Events

Demerger

Record: 30 Apr 2026

Event29 Apr 2026

To consider and approve the financial results for the period ended March 31, 2026

Results28 Apr 2026

Interim Dividend - Rs 11 Per Share

Record: 27 Mar 2026

Dividend26 Mar 2026

Interim Dividend - Rs 16 Per Share

Record: 26 Aug 2025

Dividend25 Aug 2025

Interim Dividend - Rs 7 Per Share

Dividend23 Jun 2025

Interim Dividend - Rs 8.50 Per Share

Dividend23 Dec 2024

Interim Dividend - Rs 20 Per Share

Dividend9 Sept 2024

Interim Dividend - Rs 4 Per Share

Record: 2 Aug 2024

Dividend1 Aug 2024

Annual General Meeting

AGM3 Jul 2024

Interim Dividend - Rs 11 Per Share

Record: 24 May 2024

Dividend23 May 2024

Latest News

All news →

Bluspring wins ₹1,437 crore order from Vedanta

*Bluspring wins ₹1,437 crore order from Vedanta* — Bluspring shares surged **6.8%** on the NSE following the announcement of a major order win. The contract, valued at **₹1,437 crore**, is from Vedanta Limited and pertains to engineering and construction services. Such a large order boosts near-term revenue visibility and strengthens order book confidence. 📊 *STOCKS:* BLUESTAR | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #OrderWin

Business Outreach Magazine3 Jul
High Impact

Vedanta's segregated businesses to list on NSE Monday

*Vedanta's aluminium, power, oil & gas, and iron & steel verticals begin trading as separate entities on NSE Monday.* The move follows shareholder approval for demerger. **Target price** estimates from analysts range between **₹320–₹380**. Trading under new symbols aims to unlock shareholder value and improve sector-specific valuations. 📊 *STOCKS:* VEDL | 🏢 *SECTOR:* Corporate | #HIGHIMPACT #Listing

The Economic Times13 Jun
High Impact

Vedanta to list four entities post-demerger

*Vedanta to list four entities post-demerger*. The demerger will split VEDL into separate units for metals, oil & gas, power, and infrastructure. Shareholders will receive shares in each new entity based on **1:1 ratio**, with listing prices determined by NAV. Cost of acquisition for each new company will be **notified post-split**. 📊 *STOCKS:* VEDL | 🏢 *SECTOR:* Corporate | #HIGHIMPACT #Demerger

The Economic Times19 May
High Impact

India cuts onshore crude oil royalty rates

*India cuts onshore crude oil royalty rates* boosting profitability for producers. The new rates reduce royalty from **12.5% to 5%**, significantly lowering costs for ONGC, Oil India, and Vedanta. This move aims to boost domestic output and reduce import dependence. Higher production and margins expected going forward. 📊 *STOCKS:* ONGC, OIL, VEDL | 🏢 *SECTOR:* Energy | #HIGHIMPACT #Energy

NDTV Profit12 May
High Impact

208 NSE firms, including HUL and Maruti, to report Q4 earnings next week

*208 NSE firms, including HUL and Maruti, to report Q4 earnings next week* – Key results due between April 27 and May 2 may drive market volatility. Investors will focus on **profit margins**, **revenue growth**, and forward guidance amid inflation concerns. Heavyweight names like Maruti, HUL, Coal India, and Vedanta are in the spotlight. 📊 *STOCKS:* MARUTI, HINDUNILVR, COALINDIA, VEDL | 🏢 *SECTOR:* Earnings | #HIGHIMPACT #Earnings

MSN3 May
High Impact

Vedanta's AGM voting results disclosed to exchange

*Vedanta's AGM voting results disclosed to exchange*. Vedanta Limited has submitted the scrutinizers' report of its Annual General Meeting held on **July 14, 2026**, to the stock exchange. The filing includes the official voting results from shareholder resolutions. This is a routine disclosure with no immediate financial implications. 📊 *STOCKS:* VEDL | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #AGM

NSE Filing15 Jul
Low Impact

Vedanta issues regulatory update under SEBI norms

*Vedanta issues regulatory update under SEBI norms* — Vedanta Limited filed a disclosure under Regulation 30 of SEBI Listing Regulations. The update is routine and pertains to standard compliance requirements. No specific financial or operational details were provided. Such filings are part of ongoing regulatory obligations. 📊 *STOCKS:* VEDL | 🏢 *SECTOR:* Regulation | #LOWIMPACT #regulatory

NSE Filing24 Jun
Low Impact

Vedanta removed from MSCI Global Standard Indexes

*Vedanta removed from MSCI Global Standard Indexes.* The stock will be excluded due to non-fulfilment of domicile criteria. This may trigger passive fund outflows worth **$100–150 million**. Index rebalance could lead to reduced foreign investor interest. 📊 *STOCKS:* VEDL | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #MSCI

Upstox16 Jun
Medium Impact

Vedanta faces higher buyback costs as bonds trade above par

*Vedanta faces higher buyback costs as bonds trade above par value.* Bond prices trading above **₹100** par value increase redemption costs ahead of maturity. This could pressure near-term cash flow despite strong operational performance. Investors may reassess debt sustainability. 📊 *STOCKS:* VEDL | 🏢 *SECTOR:* Corporate | #MEDIUMIMPACT #Buyback

India IPO14 Jun
Medium Impact

Vedanta's Sijimali bauxite project gets conditional green nod

*Vedanta's Sijimali bauxite project gets conditional environmental clearance.* The approval is **conditional**, pending compliance with specific safeguards. This paves the way for **5.8 MTPA** bauxite mining in Odisha, boosting Vedanta’s aluminum value chain. A final investment decision may follow soon. 📊 *STOCKS:* VEDL | 🏢 *SECTOR:* Mining | #MEDIUMIMPACT #Vedanta

Discovery Alert2 Jun
Medium Impact

Financials

Quarterly Results

MetricDec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024
Revenue
₹21.3K Cr
▲13.8%
₹18.7K Cr
▼50.4%
₹37.8K Cr
▲126.7%
₹16.7K Cr
▼2.2%
₹17.1K Cr
▼54.7%
₹37.6K Cr
▲5.2%
₹35.8K Cr
▲0.7%
₹35.5K Cr
Op. Profit
₹6.5K Cr
▲32.7%
₹4.9K Cr
▼50.4%
₹9.9K Cr
▲89.1%
₹5.2K Cr
▲4.6%
₹5.0K Cr
▼49.0%
₹9.8K Cr
▼1.2%
₹9.9K Cr
▲13.4%
₹8.8K Cr
OPM
31.0%
▲19.2%
26.0%
▲0.0%
26.0%
▼16.1%
31.0%
▲6.9%
29.0%
▲11.5%
26.0%
▼7.1%
28.0%
▲12.0%
25.0%
Net Profit
₹7.8K Cr
▲124.4%
₹3.5K Cr
▼21.9%
₹4.5K Cr
▼10.2%
₹5.0K Cr
▲1.7%
₹4.9K Cr
▼13.0%
₹5.6K Cr
▲10.0%
₹5.1K Cr
▲124.0%
₹2.3K Cr
EPS (₹)
14.6
▲217.4%
4.6
▼43.5%
8.14
▼8.6%
8.91
▼1.8%
9.07
▼18.5%
11.13
▲14.7%
9.7
▲163.6%
3.68

Values in ₹ Cr · Source: Screener.in

Annual Profit & Loss

MetricMar 2026Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017
Revenue
₹78.4K Cr
▲25.1%
₹62.7K Cr
▼56.4%
₹1.4L Cr
▼2.4%
₹1.5L Cr
▲11.0%
₹1.3L Cr
▲50.8%
₹88.0K Cr
▲4.2%
₹84.4K Cr
▼8.3%
₹92.0K Cr
▲0.2%
₹91.9K Cr
▲27.2%
₹72.2K Cr
Expenses
₹55.3K Cr
▲25.2%
₹44.1K Cr
▼59.3%
₹1.1L Cr
▼4.0%
₹1.1L Cr
▲28.4%
₹87.9K Cr
▲44.8%
₹60.7K Cr
▼4.7%
₹63.7K Cr
▼7.5%
₹68.9K Cr
▲2.8%
₹67.0K Cr
▲31.7%
₹50.8K Cr
Op. Profit
₹23.2K Cr
▲24.8%
₹18.6K Cr
▼47.4%
₹35.3K Cr
▲2.6%
₹34.4K Cr
▼23.2%
₹44.8K Cr
▲64.1%
₹27.3K Cr
▲31.7%
₹20.7K Cr
▼10.5%
₹23.2K Cr
▼6.9%
₹24.9K Cr
▲16.4%
₹21.4K Cr
OPM
30.0%
▲0.0%
30.0%
▲20.0%
25.0%
▲8.7%
23.0%
▼32.4%
34.0%
▲9.7%
31.0%
▲24.0%
25.0%
▲0.0%
25.0%
▼7.4%
27.0%
▼10.0%
30.0%
Other Income
₹14.2K Cr
▲11.4%
₹12.7K Cr
▲143.1%
₹5.2K Cr
▲99.7%
₹2.6K Cr
▲43.3%
₹1.8K Cr
▼33.2%
₹2.7K Cr
▲118.4%
₹-14.9K Cr
▼449.7%
₹4.3K Cr
▼29.9%
₹6.1K Cr
▲37.6%
₹4.4K Cr
Interest
₹2.8K Cr
▼32.9%
₹4.2K Cr
▼55.7%
₹9.5K Cr
▲52.0%
₹6.2K Cr
▲29.8%
₹4.8K Cr
▼7.9%
₹5.2K Cr
▲4.7%
₹5.0K Cr
▼12.5%
₹5.7K Cr
▲11.3%
₹5.1K Cr
▼12.7%
₹5.9K Cr
Depreciation
₹4.8K Cr
▲13.6%
₹4.2K Cr
▼60.5%
₹10.7K Cr
▲1.6%
₹10.6K Cr
▲18.7%
₹8.9K Cr
▲16.5%
₹7.6K Cr
▼16.0%
₹9.1K Cr
▲11.0%
₹8.2K Cr
▲30.4%
₹6.3K Cr
▼0.1%
₹6.3K Cr
PBT
₹29.7K Cr
▲30.0%
₹22.9K Cr
▲12.4%
₹20.4K Cr
▲0.4%
₹20.3K Cr
▼38.5%
₹33.0K Cr
▲91.5%
₹17.2K Cr
▲308.4%
₹-8.3K Cr
▼160.9%
₹13.6K Cr
▼30.7%
₹19.6K Cr
▲43.3%
₹13.7K Cr
Tax %
16.0%
▲60.0%
10.0%
▼84.1%
63.0%
▲125.0%
28.0%
▲0.0%
28.0%
▲115.4%
13.0%
▲130.2%
-43.0%
▼253.6%
28.0%
▼6.7%
30.0%
▲76.5%
17.0%
Net Profit
₹25.1K Cr
▲22.2%
₹20.5K Cr
▲172.4%
₹7.5K Cr
▼48.0%
₹14.5K Cr
▼38.8%
₹23.7K Cr
▲57.7%
₹15.0K Cr
▲416.9%
₹-4.7K Cr
▼148.9%
₹9.7K Cr
▼29.2%
₹13.7K Cr
▲21.0%
₹11.3K Cr
EPS (₹)
44.47
▲16.0%
38.33
▲236.2%
11.4
▼59.9%
28.45
▼43.8%
50.58
▲62.1%
31.21
▲274.1%
-17.93
▼194.3%
19.01
▼31.7%
27.82
▲18.5%
23.47
Div Payout
76.0%
▼32.7%
113.0%
▼56.4%
259.0%
▼27.5%
357.0%
▲301.1%
89.0%
▲196.7%
30.0%
▲236.4%
-22.0%
▼122.2%
99.0%
▲30.3%
76.0%
▼8.4%
83.0%

Values in ₹ Cr · Source: Screener.in

Balance Sheet

ItemSep 2025Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017
Liabilities
Equity Capital
₹391 Cr
▲0.0%
₹391 Cr
▲5.1%
₹372 Cr
▲0.0%
₹372 Cr
▲0.0%
₹372 Cr
▲0.0%
₹372 Cr
▲0.0%
₹372 Cr
▲0.0%
₹372 Cr
▲0.0%
₹372 Cr
▲25.3%
₹297 Cr
Reserves
₹39.8K Cr
▼2.6%
₹40.8K Cr
▲34.5%
₹30.4K Cr
▼22.3%
₹39.1K Cr
▼39.9%
₹65.0K Cr
▲5.0%
₹61.9K Cr
▲14.1%
₹54.3K Cr
▼12.4%
₹61.9K Cr
▼1.6%
₹62.9K Cr
▲4.7%
₹60.1K Cr
Borrowings
₹85.1K Cr
▼7.0%
₹91.5K Cr
▲4.3%
₹87.7K Cr
▲9.2%
₹80.3K Cr
▲49.9%
₹53.6K Cr
▼7.1%
₹57.7K Cr
▼2.6%
₹59.2K Cr
▼10.6%
₹66.2K Cr
▲13.9%
₹58.2K Cr
▼18.7%
₹71.6K Cr
Other Liabilities
₹91.4K Cr
▲35.9%
₹67.2K Cr
▼3.5%
₹69.7K Cr
▼0.0%
₹69.7K Cr
▼7.0%
₹75.0K Cr
▲18.0%
₹63.5K Cr
▼5.0%
₹66.9K Cr
▼4.5%
₹70.0K Cr
▲18.9%
₹58.9K Cr
▼9.3%
₹65.0K Cr
Total Liabilities
₹2.2L Cr
▲8.3%
₹2.0L Cr
▲6.3%
₹1.9L Cr
▼0.7%
₹1.9L Cr
▼2.3%
₹1.9L Cr
▲5.7%
₹1.8L Cr
▲1.5%
₹1.8L Cr
▼9.0%
₹2.0L Cr
▲10.1%
₹1.8L Cr
▼8.4%
₹2.0L Cr
Assets
Fixed Assets
₹1.1L Cr
▲10.3%
₹99.9K Cr
▲1.0%
₹99.0K Cr
▲3.4%
₹95.7K Cr
▲2.4%
₹93.5K Cr
▲3.3%
₹90.5K Cr
▲1.8%
₹88.9K Cr
▼7.8%
₹96.4K Cr
▲20.1%
₹80.3K Cr
▲4.6%
₹76.8K Cr
CWIP
₹30.4K Cr
▼10.2%
₹33.9K Cr
▲48.1%
₹22.9K Cr
▲17.2%
₹19.5K Cr
▲23.0%
₹15.9K Cr
▼2.7%
₹16.3K Cr
▼12.2%
₹18.6K Cr
▼25.5%
₹25.0K Cr
▼22.1%
₹32.1K Cr
▲16.3%
₹27.6K Cr
Investments
₹12.4K Cr
▼14.8%
₹14.5K Cr
▲22.4%
₹11.9K Cr
▼9.7%
₹13.2K Cr
▼23.9%
₹17.3K Cr
▲3.8%
₹16.7K Cr
▼32.7%
₹24.8K Cr
▼25.1%
₹33.1K Cr
▲15.2%
₹28.7K Cr
▼38.9%
₹47.0K Cr
Other Assets
₹63.5K Cr
▲23.1%
₹51.6K Cr
▼5.1%
₹54.4K Cr
▼10.9%
₹61.0K Cr
▼9.3%
₹67.3K Cr
▲12.1%
₹60.1K Cr
▲23.8%
₹48.5K Cr
▲9.8%
₹44.1K Cr
▲12.2%
₹39.3K Cr
▼13.9%
₹45.7K Cr
Total Assets
₹2.2L Cr
▲8.3%
₹2.0L Cr
▲6.3%
₹1.9L Cr
▼0.7%
₹1.9L Cr
▼2.3%
₹1.9L Cr
▲5.7%
₹1.8L Cr
▲1.5%
₹1.8L Cr
▼9.0%
₹2.0L Cr
▲10.1%
₹1.8L Cr
▼8.4%
₹2.0L Cr

Values in ₹ Cr · Source: Screener.in

Cash Flow Statement

ItemMar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016
Operating CF
₹39.6K Cr
▲11.0%
₹35.7K Cr
▲7.8%
₹33.1K Cr
▼5.4%
₹35.0K Cr
▲45.8%
₹24.0K Cr
▲24.2%
₹19.3K Cr
▼18.8%
₹23.8K Cr
▲36.8%
₹17.4K Cr
▼4.0%
₹18.1K Cr
▼11.3%
₹20.4K Cr
Investing CF
₹-19.2K Cr
▼40.1%
₹-13.7K Cr
▼1947.3%
₹-668 Cr
▲70.2%
₹-2.2K Cr
▲66.4%
₹-6.7K Cr
▼12.7%
₹-5.9K Cr
▲44.1%
₹-10.6K Cr
▼168.4%
₹15.5K Cr
▲477.4%
₹2.7K Cr
▲134.1%
₹-7.9K Cr
Financing CF
₹-19.2K Cr
▲26.3%
₹-26.1K Cr
▲23.6%
₹-34.1K Cr
▼18.1%
₹-28.9K Cr
▼64.5%
₹-17.6K Cr
▼13.0%
₹-15.5K Cr
▼51.8%
₹-10.2K Cr
▲73.9%
₹-39.3K Cr
▼215.9%
₹-12.4K Cr
▼9.9%
₹-11.3K Cr
Net Cash Flow
₹1.2K Cr
▲128.7%
₹-4.1K Cr
▼135.8%
₹-1.7K Cr
▼145.7%
₹3.8K Cr
▲1551.3%
₹-263 Cr
▲87.9%
₹-2.2K Cr
▼174.4%
₹2.9K Cr
▲145.5%
₹-6.4K Cr
▼176.9%
₹8.3K Cr
▲591.5%
₹1.2K Cr
Free Cash Flow
₹22.8K Cr
▲19.6%
₹19.1K Cr
▼1.6%
₹19.4K Cr
▼21.3%
₹24.7K Cr
▲42.8%
₹17.3K Cr
▲48.4%
₹11.6K Cr
▼22.1%
₹14.9K Cr
▲48.3%
₹10.1K Cr
▼20.4%
₹12.6K Cr
▼15.5%
₹15.0K Cr

Values in ₹ Cr · Source: Screener.in

Key Ratios History

MetricMar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016
Debtor Days
21d
▲133.3%
9d
▼10.0%
10d
▼28.6%
14d
▲0.0%
14d
▲16.7%
12d
▼25.0%
16d
▲0.0%
16d
▲45.5%
11d
▼21.4%
14d
Inventory Days
234d
▲118.7%
107d
▼13.7%
124d
▼15.6%
147d
▼3.9%
153d
▼16.8%
184d
▲0.0%
184d
▲36.3%
135d
▼16.1%
161d
▲22.0%
132d
Days Payable
165d
▲98.8%
83d
▼8.8%
91d
▼58.8%
221d
▼9.8%
245d
▼10.9%
275d
▲13.6%
242d
▲19.8%
202d
▼34.4%
308d
▲15.4%
267d
Cash Conv. Cycle
90d
▲172.7%
33d
▼23.3%
43d
▲170.5%
-61d
▲20.8%
-77d
▲3.8%
-80d
▼90.5%
-42d
▲17.6%
-51d
▲62.5%
-136d
▼13.3%
-120d
Working Capital Days
-243d
▼127.1%
-107d
▲10.8%
-120d
▼46.3%
-82d
▲45.3%
-150d
▲19.4%
-186d
▲12.3%
-212d
▼16.5%
-182d
▲46.2%
-338d
▼54.3%
-219d
ROCE
12.0%
▼42.9%
21.0%
▲5.0%
20.0%
▼28.6%
28.0%
▲64.7%
17.0%
▲70.0%
10.0%
▼28.6%
14.0%
▼6.7%
15.0%
▲36.4%
11.0%
▲178.6%
-14.0%

Source: Screener.in · Lower days = better efficiency

About Vedanta Limited

Vedanta Ltd is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil & gas. The group engages in the exploration, production and sale of zinc, lead, silver, copper, aluminium, iron ore and oil & gas. It has presence across India, South Africa, Namibia, Ireland, Liberia & UAE. Its other businesses includes commercial power generation, steel manufacturing & port operations in India and manufacturing of glass substrate in South Korea and Taiwan.[1]

Metals & Mining · Diversified Metals

Frequently Asked Questions

What is Vedanta Limited share price today?
Vedanta Limited (VEDL) is currently trading at ₹262.5 on NSE, as of the last market session. Prices update daily after market close on MarketNetra.
Is Vedanta Limited available in F&O (Futures & Options)?
Yes, Vedanta Limited (VEDL) is part of the NSE F&O segment with a lot size of 1150 shares. Options are available with monthly expiry contracts. You can track the full option chain and OI analysis on MarketNetra.
What is Vedanta Limited 52-week high and low?
Vedanta Limited's 52-week high is ₹361 and the 52-week low is ₹152. The current price of ₹262.5 is 27.3% below the 52W high.
What is Vedanta Limited P/E ratio?
Vedanta Limited's current P/E ratio is 5.71. This indicates the market is paying ₹5.71 for every ₹1 of earnings. Compare this to the sector average to assess relative valuation.
How to trade Vedanta Limited options?
Vedanta Limited options are traded on NSE with monthly expiry contracts (lot size: 1150 shares). To trade VEDL options: select your expiry on the option chain page, identify key OI strikes, check the PCR and buildup type on OI analysis, and review FII/DII flows for institutional sentiment before taking a position.