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Vedanta gains with arm receiving nod for investment in AvanStrate

28 Dec 2017 Evaluate

Vedanta is currently trading at Rs. 330.45, up by 4.30 points or 1.32% from its previous closing of Rs. 326.15 on the BSE.

The scrip opened at Rs. 328.00 and has touched a high and low of Rs. 330.45 and Rs. 328.00 respectively. So far 19,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 346.80 on 03-Nov-2017 and a 52 week low of Rs. 210.80 on 28-Dec-2016.

Last one week high and low of the scrip stood at Rs. 330.45 and Rs. 312.90 respectively. The current market cap of the company is Rs. 1,22,611.00 crore.

The promoters holding in the company stood at 50.23%, while Institutions and Non-Institutions held 31.03% and 15.02% respectively.

Vedanta’s wholly owned subsidiary --- Cairn India holdings (CIHL), has received approval from its board for an investment of c.$158 million in Japanese manufacturer for LCD glass substrate, AvanStrate Inc. (ASI), currently majority owned by the Carlyle Group.

This transaction provides both strategic control and attractive returns to CIHL. Completion of the Acquisition is conditional on consents being obtained from ASI's existing lenders and is expected to occur prior to December 31, 2017.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.


Vedanta Share Price

745.10 7.90 (1.07%)
10-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco 992.25
Vedanta 745.10
Hindustan Zinc 564.10
Jain Resource Recycl 426.95
Gravita India 1558.65
View more..

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