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Vedanta surges on bagging 41 oil, gas exploration blocks in open acreage auction

29 Aug 2018 Evaluate

Vedanta is currently trading at Rs. 236.10, up by 5.70 points or 2.47% from its previous closing of Rs. 230.40 on the BSE.

The scrip opened at Rs. 233.55 and has touched a high and low of Rs. 236.85 and Rs. 233.05 respectively. So far 454883 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 355.70 on 29-Jan-2018 and a 52 week low of Rs. 200.75 on 20-Jul-2018.

Last one week high and low of the scrip stood at Rs. 236.85 and Rs. 212.30 respectively. The current market cap of the company is Rs. 87261.13 crore.

The promoters holding in the company stood at 50.14%, while Institutions and Non-Institutions held 32.15% and 13.39% respectively.

Vedanta has bagged 41 out of 55 oil and gas exploration blocks offered in India’s maiden open acreage auction. Vedanta had put in bids for all the 55 blocks.

It will strengthen the company’s vision to invest in India and contribute 50% of India’s domestic crude oil production.

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.

Peers
Company Name CMP
Hindalco Industries 981.90
Vedanta 264.35
Hindustan Zinc 576.05
Jain Resource Recycl 284.70
CMR Green Tech 216.55
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