Vedanta Surges Nearly 8% On Heavy Trading Volumes

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Vedanta Surges Nearly 8% On Heavy Trading Volumes

Shares of billionaire Anil Agarwal-led Vedanta Limited – rose as much as 7.74 per cent to hit an intraday high of Rs 354 on the back of heavy trading volumes. As many as 4.33 crore Vedanta shares changed hands by 11:19 am, on the BSE, compared with an average of 14.13 lakh shares traded daily in the past two weeks, data from BSE showed. Promoters of Vedanta – Twin Star Holdings and Vedanta Netherlands Investments B.V. are looking to purchase up to 17 crore equity shares of the company at an indicative price of Rs 350 per share, valued at Rs 5,950 crore, newspaper Business Standard reported on Monday.

On the National Stock Exchange, over 26.87 crore Vedanta shares were traded by 11:22 am.

Vedanta shares have so far this year advanced as much as 139 per cent to hit 52-week high of Rs 385 on October 19.

Vedanta Limited is a globally diversified natural resources company with interests in zinc-lead-silver, Iron ore, steel, copper, aluminium, power, oil and gas.

As of 11:26 am, Vedanta shares were trading 4.36 per cent higher at Rs 342.65, outperforming the Nifty which was down 0.2 per cent.

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