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Vedanta gains on acquiring 4.98% stake in Cairn India for $315 million

05 Jun 2015 Evaluate

Vedanta is currently trading at Rs. 184.80, up by 0.80 points or 0.43% from its previous closing of Rs. 184.00 on the BSE.

The scrip opened at Rs. 183.00 and has touched a high and low of Rs. 186.60 and Rs. 181.65 respectively. So far 87220 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 318.40 on 06-Jun-2014 and a 52 week low of Rs. 180.45 on 04-Jun-2015.

Last one week high and low of the scrip stood at Rs. 201.40 and Rs. 180.45 respectively. The current market cap of the company is Rs. 54802.37 crore.

The promoters holding in the company stood at 59.52% while Institutions and Non-Institutions held 23.01% and 10.00% respectively.

Vedanta, formerly Sesa Sterlite, has acquired 4.98% stake in Cairn India for $315 million from a wholly-owned subsidiary Twinstar Mauritius Holdings (TSMHL). The funds received by TSMHL will be used to service existing debt obligations at TSMHL.

TSMHL had 39.41% stake in Cairn India at March 31, 2015, while Vedanta’s stake was 18.73%. Following the share transfer, Vedanta will continue to hold 59.9% stake in Cairn India of which 25.5% will be held directly and 34.4% held indirectly through TSMHL.

Vedanta is one of the world’s largest diversified natural resource companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas.

Vedanta Share Price

787.60 4.85 (0.62%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco 1038.95
Vedanta 787.60
Hindustan Zinc 592.35
Jain Resource Recycl 420.90
Gravita India 1639.80
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